Wally Yachts to join Ferretti Group

The Ferretti Group has revealed that Italian yard Wally Yachts is to join its portfolio of brands.

Announced at Boot Düsseldorf 2019, the Ferretti Group will now hold an exclusive license agreement with Wally, representing a significant step towards the group’s full acquisition of the brand.

As part of the agreement, the Ferretti Group will start a four-year period of investment in Wally, including a €70 million (c. £62 million) fund dedicated to brand development and the design and construction of new yacht ranges. Every new Wally yacht will be built at Ferretti Group yards, with much of the activity expected to take place at its Ancona facility.

Commenting on the news at Boot Düsseldorf, Ferretti Group CEO Alberto Galassi noted, "There has long been a mutual fascination between us and Wally and from today we will continue to develop this extraordinary brand with method, vision, investment and with the same energy and creativity that has led the Ferretti Group to the top of the yachting world."

"The market today requires significant investment to develop new products and new markets," added Wally founder Luca Bassani. "Ferretti Group has great industrial, organisational and commercial capabilities and will be able to boost Wally. I will continue my design and development activity on an exclusive basis, ensuring the continuity of Wally's DNA. I could not wish anything better for Wally's life.”

Wally Yachts joins a portfolio of historic brands, including Ferretti Yachts, Itama, Mochi Craft, Pershing, Riva, CRN and Custom Line, and becomes Ferretti Group’s debut venture into sailing yachts.

The development follows the group’s revelation that it was seeking to identify sites in which to house Wally Yachts in the event of a successful acquisition.

In August 2018, Italian financial newspaper Corriere della Sera reported that it would require a bid in the region of €25-30 million (c. 22-26.5 million) for the Ferretti Group to acquire the Monte Carlo-based company.

For more information, visit Ferretti Group or Wally Yachts. Sign up to our newsletter to get the best of Yachting Pages delivered direct to your inbox every month.