Portobello is nearing the acquisition of Martínez Otero, a luxury furniture manufacturer that supplies hotels and stores globally, aiming to expand its presence in the luxury furniture industry.
Portobello, a Spanish private equity firm, is close to completing the acquisition of Martínez Otero, a manufacturer known for furnishing some of the world's most luxurious hotels and stores, including those belonging to Inditex. The deal is part of Portobello's strategy to create a platform for growth within the luxury furniture sector. Martínez Otero, based in A Estrada, has a global reach, with a reported revenue of €88.6 million in 2024 and operations in countries such as Morocco, the United States, and the Dominican Republic.
The acquisition is poised to enhance Portobello's portfolio by incorporating a company that combines exclusive design with industrial capability. The preliminary valuation of Martínez Otero is around €50 million, reflecting its significance in the high-end furnishings market. The brand is recognized for its ability to provide tailored solutions for various luxury settings, further solidifying its place in the international arena.
This strategic move could demonstrate the increasing demand for luxury furnishings in a post-pandemic world, where aesthetics in hospitality and retail have become paramount. With Portobello's backing, Martínez Otero may leverage greater resources and networks, potentially leading to expanded influence in the global luxury market.
