Picanol Group, a diversified industrial group, has acquired minority stake in Rieter Holding, amounting to 467,236 shares for a price of €45.4 million. As a result of the transaction, Picanol Group now holds 10 per cent of the share capital of Rieter Holding. Rieter is the world’s leading supplier of systems for short-staple fibre spinning. With the financial participation in Rieter Holding, Picanol Group wants to further diversify its activities in the textile industry and secure a stable shareholding for Rieter Holding in the long term. Rieter develops and manufactures machinery, systems and components used to convert natural and man-made fibers into yarns.