Segro has completed the acquisition of the final 5% of shares in Vailog, the Italian developer in which it took a majority stake in 2015.
Vailog was founded in 2003 by Eric Veron and under his leadership quickly established itself as one of Italy’s leading big box warehouse developers.
The acquisition of Vailog enabled Segro to strengthen and accelerate its growth in the Italian market, and in the eight years since taking a majority stake it has built a 1.9 million m2 prime logistics portfolio, as well as developing and managing assets in France and The Netherlands.
After collaborating with Segro over the last eight years, Veron has decided to step down from his executive role at Vailog but will continue to work with the company on an external consultancy basis.
Segro’s Italian business will deploy new management with Luca Sorbara and Giulio Della Torre taking co-leadership positions.
In their new roles, Sorbara and Della Torre will continue to strengthen and consolidate the company’s leadership position in Italy and build on long-term strategic relationships with commercial partners and public administrations.
Sorbara joined the company in 2016 and is currently head of development and investment at Vailog.
With over 10 years’ experience in the real estate business, he has led the negotiation of the company’s main transactions in Italy.
Della Torre is currently a director at Vailog, with over a decade of service within the company and broader experience in the property development market.
He has led the delivery of multiple projects for a broad range of clients during this period.
Marco Simonetti, managing director Southern Europe, Segro, said: 'Our footprint in Italy has grown significantly over the last 10 years making it one of our largest markets in Continental Europe.
'Having established scale, particularly in the north, and a portfolio of high quality, sustainable warehouses, we are evolving our strategy in Italy towards longer term investment, in addition to development.
'Furthermore, we see further opportunities to strengthen our position around other key Italian cities and transport corridors.'
