SEGRO has taken full ownership of Italian developer Vailog after acquiring the final 5% of shares in the big box warehouse business of which it took a majority stake in 2015.
Eric Veron, who founded Vailog in 2003, will step down from his executive role at the company, but he will continue to advise the company on an external consultancy basis.
Luca Sorbara – current head of development and investment at Vailog – and Vailog director Giulio Della Torre are taking co-leadership positions at the company as part of the new management set-up.
Marco Simonetti, managing director Southern Europe at 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.
“I would like to thank Eric Veron for his efforts over the last eight years in growing our Italian business and managing the integration of Vailog into the SEGRO Group and I wish him well in his future endeavours. We will continue to collaborate with Eric on a different basis. I also look forward to working with Luca Sorbara and Giulio Della Torre to continue to deliver our growth plans in Italy, continuing to diversify our customer base and delivering our Responsible SEGRO priorities to champion low carbon growth, invest in communities and environments, and nurture talent.”
