Progold Expands in Asia with Acquisition of ABI Manufacturing
Deal News | May 29, 2025 | PR Newswire Cision Progold S.p.A.
Progold S.p.A., an Italian firm specializing in precious metal alloys and additive technologies for jewelry, has announced its acquisition of 100% of ABI Manufacturing International Ltd, a company based in Bangkok. This strategic move positions Progold to enhance its presence in the Asian market and strengthen its leadership in the jewelry manufacturing sector. ABI, a longstanding U.S. brand, will continue operations under its current management team led by CEO Nongluck Julsuwan and COO Noppadon Niwattannan, now supported by Progold's resources and expertise. The acquisition is part of Progold's broader strategy to expand internationally and leverages the backing of LBO France, which has supported Progold since December 2021. The deal has also seen the inclusion of Progold’s leadership, such as CEO Damiano Zito, in ABI’s board, and it signifies a major step in Progold’s growth strategy. The transaction was facilitated by several advisors, including Chandler Mori Hamada Limited and PWC.
Sectors
- Jewelry Manufacturing
- Private Equity
- Mergers and Acquisitions
Geography
- Italy – Progold is an Italian company based in Trissino, acting as the acquiring entity in this deal.
- Thailand – ABI Manufacturing International Ltd is based in Bangkok, signifying the geographical focus of the acquisition.
- France – LBO France, as the private equity backer, is based in France, highlighting European financial involvement in the transaction.
Industry
- Jewelry Manufacturing – Progold and ABI Manufacturing operate in the jewelry manufacturing sector, focusing on the production and development of precious metal alloys.
- Private Equity – LBO France's involvement as a private equity firm backing Progold indicates a sector engagement, providing financial support for strategic acquisitions.
- Mergers and Acquisitions – The acquisition of ABI Manufacturing by Progold is a direct example of M&A activity within the industry.
Financials
- – The article does not disclose financial terms of the acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Progold S.p.A | Acquirer | Company | An Italian company specializing in precious metal alloys and additive technologies for the jewelry industry. |
| ABI Manufacturing International Ltd | Target | Company | A Bangkok-based company in the jewelry manufacturing sector. |
| LBO France | Private Equity Backer | Company | A French multi-specialist investment platform actively supporting Progold through its Small Caps Opportunities fund. |
| Nongluck Julsuwan | CEO of ABI | Person | Current CEO of ABI Manufacturing International Ltd, overseeing operations post-acquisition. |
| Damiano Zito | CEO of Progold / Board Member of ABI | Person | President and CEO of Progold, joining the Board of ABI post-acquisition. |
| Gemma Michelin | Deputy CEO of Progold / Board Member of ABI | Person | Deputy CEO of Progold, joining the Board of ABI post-acquisition. |
| Thomas Hammershøy Nyborg | Board Member of Progold | Person | A member of Progold's Board joining the ABI Board post-acquisition. |
| Gary Ford | Founder of ABI | Person | Founder of the historic U.S. brand ABI Manufacturing International Ltd. |
| Noppadon Niwattannan | COO of ABI | Person | Current COO of ABI, maintaining operational management post-acquisition. |