Sundek’s Global Licensee Sold by DGPA Capital

MILAN — Italian private equity fund DGPA Capital, controlled by Style Capital SGR, has sold 100 percent of beachwear brand Sundek’s global licensee to Italian holding Mo.da Gioielli Srl, which was established by Twin Set founder and former creative director Simona Barbieri along with her husband Tiziano Sgarbi. According to several local media reports over the weekend, the transaction comprises the acquisition of Kickoff SpA, Sundek’s licensee for the Italian market since 1988. In 2007, Kickoff inked a global licensing agreement with Sundek Apparel LLC for the design, production and worldwide distribution of the brand. As part of the buyout, Mo.da Gioielli also acquired the brand’s rights, which Kickoff did not already own, from the U.S.-based Sundek Apparel LLC. Financial details of the deal were not disclosed and a Kickoff spokeswoman told WWD the company “will meet with the fund in mid-January.” DGPA Capital first acquired 60 percent of Kickoff in 2008 for 38 million euros, then took over the company founded in 1979 by Luciano Pacini in 2015. Founded in California in 1958 by Stuart Levin, who invented the brand’s signature logo with a sun rising above the deck, Sundek took advantage in the Sixties of the rise of U.S. surf culture and, in the

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