#Italy #Milan #H.I.G. Capital #Pinalli #Borletti Group

H.I.G. Capital Sells Pinalli to Borletti Group

On October 1, 2026, H.I.G. Capital, a prominent global alternative investment firm managing $75 billion in assets, announced the successful sale of Pinalli S.r.l., the leading omnichannel Italian beauty and personal care platform, to Borletti Group, a private investment firm with extensive experience in retail, luxury, and branded consumer goods. Pinalli was established in 1984 and has experienced significant growth, thus solidifying its position as a key player in the Italian beauty and personal care industry.

During its partnership with H.I.G., Pinalli expanded its store network from 63 to 108 locations, enhanced its e-commerce platform, and underwent a comprehensive rebranding effort. These initiatives also included an expansion of its range of international, innovative, and digital-native brands, along with the introduction of its line of private label products. The company improved customer experiences with innovative store concepts and redefined its staff branding, reinforcing the role of physical stores as personalized advisory and inspirational spaces.

Today, Pinalli boasts a community of over one million members enrolled in its loyalty program, reflecting successful customer engagement strategies. Raffaele Legnani, CEO and head of H.I.G.'s Italian office, along with Giovanni Guglielmi, expressed pride in the progress made with Pinalli and gratitude to the management team. They affirmed confidence in Borletti Group as the ideal partner for Pinalli’s next phase of growth.

Raffaele Rossetti, CEO of Pinalli, credited H.I.G.’s partnership with accelerating their development and executing their ambitious growth plan ahead of schedule. He emphasized the importance of the team’s expertise and dedication in bolstering the brand, expanding its store network, and developing an omnichannel platform. Rossetti warmly welcomed Borletti Group as the new shareholder at this pivotal growth juncture.

Maurizio Borletti, founding partner of Borletti Group, recognized Pinalli for its steady performance, growth potential, and commitment to innovation. He reaffirmed the group's dedication to collaborating closely with Pinalli’s management to enhance its market position in Italy while continuing investments in network expansion, digital capabilities, and customer experience.

About Pinalli

Founded in Fiorenzuola d’Arda (Piacenza) in 1984, Pinalli has steadily developed through new store openings and now operates 108 beauty product boutiques. Recently, digital priorities have become crucial for Pinalli, leading to the creation of a leading online commerce platform and an expanding community on social media. Since February 2023, H.I.G. Capital obtained a majority stake in Pinalli, partnering with the Pinalli family and the current management team. In 2025, Pinalli achieved revenues reaching €197 million. For more information, visit pinalli.it.

About H.I.G. Capital

H.I.G. Capital is a leading global firm specializing in alternative investments with $75 billion in assets under management. Based in Miami, they have offices across the United States and international offices in cities like Hamburg, London, and Hong Kong. H.I.G. provides equity and debt capital to medium-sized companies, combining a flexible, operations-focused approach with added value. H.I.G. has invested in over 400 companies and currently manages a portfolio of more than 100 enterprises with a combined revenue exceeding $53 billion. More information can be found at hig.com.

About Borletti Group

The Borletti Group, founded by Maurizio Borletti and Paolo De Spirt, is a private investment firm based in London and Luxembourg. The group invests internationally in businesses and brands within the retail, lifestyle, and consumer goods sectors. With an entrepreneurial and proactive approach, Borletti provides long-term capital, operational expertise, and a global network to portfolio companies, working closely with management teams to support growth and value creation. More details are available at borlettigroup.com.