Group Effebi-Overmarine and Sanlorenzo were both bidding to buy the assets of Baglietto, which went into liquidation in March this year, and Overmarine has won the battle with a bid of €33 million, to include the Cantieri di Pisa yard.
President of Effebi-Overmarine Giuseppe Balducci told Italy's La Stampa that every brand and yard acquired has a future: "Naturally there will be synergies," he told La Stampa. "Overmarine will continue to make Mangustas, Cantieri di Pisa will continue to make fibreglass cruisers, and Baglietto will carry on with its specialisation in steel and aluminium superyachts."