International advisory firm Savills has acquired Larry Smith Italia, a leading shopping centre and out of town management and leasing business based in Italy.  

larry smith

Larry Smith

Larry Smith, headquartered in Milan, has been established for over 30 years, providing a full range of retail services.

'This acquisition is an exciting opportunity for us to create a Centre of Excellence in shopping centre management and leasing in Italy, to support our European network and further expand the firm’s presence across the continent within the retail arena and beyond,' commented Mark Ridley, CEO of Savills UK and Europe. 'The Italian real estate market has performed robustly over the past few years and we have strong ambitions for this business.'

Combined with Savills existing capital markets and valuation team, the acquisition of Larry Smith gives Savills a leading market position in Italy.

The practice employs 80 people and is led by CEO Christian Recalcati alongside Corrado Vismara, Maddalena Panu, Silvia Segale and Anna Buniato. The management team will take senior roles on Savills Italian executive and pan-European divisional boards to grow and develop Savills business across Europe in key operating areas.

'Becoming part of Savills enables us to implement a more ambitious growth strategy, leveraging Savills brand and infrastructure. With strong cultural similarities we are looking forward to working together to develop our business,' concluded Christian Recalcati, CEO of Larry Smith.

Image: L-R Mark Ridley (CEO Savills UK & Europe), Philip Ingleby (Savills), Corrado Vismara (Larry Smith Italia), Gianni Flammini (Head of Savills Italy), Christian Recalcati (CEO of Larry Smith)