June 27, 2019 / 6:08 AM / 2 months ago

Brembo eyeing acquisition target of 'significant size' - top executive to newspaper

FILE PHOTO: Logo of Brembo is pictured at the group's headquarters in Stezzano, Italy, April 18, 2019. REUTERS/Giulio Piovaccari

MILAN (Reuters) - Brembo is eyeing an acquisition target of “significant size”, even as big as the Italian brake maker itself, Executive Vice-President Matteo Tiraboschi said in a newspaper interview published on Thursday.

Tiraboschi told Il Sole 24 Ore daily Brembo was looking for potential targets outside Italy, especially in Europe and the United States, but also China.

“It must a healthy company of a certain size - with good numbers, technology and R&D - that fits our business,” he said.

Earlier this year Brembo’s shareholders approved a loyalty share scheme which would allow the family that owns the Italian premium brake maker to retain control as the company looks to expand through acquisitions.

Reporting by Giulio Piovaccari

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