The Company has undertaken the sale of non-strategic assets and real estate properties in the U.S. and Italy to enhance operational flexibility and reduce working capital requirements. Proceeds from these sales are primarily allocated to retail expansion in North America and restructuring initiatives in Italy. In June 2020, the Company signed an agreement to sell land in the Santeramo in Colle-Jesce area. In March 2021, it sold IMPE S.p.A., a subsidiary specializing in flexible polyurethane foam production, along with the idle industrial real estate complex Fornello in Altamura (Bari). In May 2021, the Company sold another idle industrial real estate complex, Via Dell’Avena, also located in Altamura (Bari). On March 25, 2025, Natuzzi Americas, a wholly-owned U.S. subsidiary, sold property in High Point, North Carolina, to The Steel Vessel Corporation—an entity affiliated with the Company’s majority shareholder—for $12.1 million. Concurrently, the parties entered into a lease agreement for the same property with a term of nine years and nine months. In November 2024, Italsofa Romania S.r.l., the Company’s Romanian subsidiary, entered into a preliminary agreement to sell land near its plant in Baia Mare for €2.8 million.
Natuzzi S P A's Comment on Supply Chain
The Company has undertaken the sale of non-strategic assets and real estate properties in the U.S. and Italy to enhance operational flexibility and reduce working capital requirements. Proceeds from these sales are primarily allocated to retail expansion in North America and restructuring initiatives in Italy. In June 2020, the Company signed an agreement to sell land in the Santeramo in Colle-Jesce area. In March 2021, it sold IMPE S.p.A., a subsidiary specializing in flexible polyurethane foam production, along with the idle industrial real estate complex Fornello in Altamura (Bari). In May 2021, the Company sold another idle industrial real estate complex, Via Dell’Avena, also located in Altamura (Bari). On March 25, 2025, Natuzzi Americas, a wholly-owned U.S. subsidiary, sold property in High Point, North Carolina, to The Steel Vessel Corporation—an entity affiliated with the Company’s majority shareholder—for $12.1 million. Concurrently, the parties entered into a lease agreement for the same property with a term of nine years and nine months. In November 2024, Italsofa Romania S.r.l., the Company’s Romanian subsidiary, entered into a preliminary agreement to sell land near its plant in Baia Mare for €2.8 million.
Sources:
Natuzzi S p a 's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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