The Bourbons of Parma are a royal family who ruled the Duchy of Parma from 1748 till 1860 when Italy was created. The family was founded by the Infante Philip of Spain, third son of Philip V of Spain and Elisabetta Farnese. The Treaty of Aix-la-Chapelle (1748) ended the War of the Austrian Succession, and gave the land to Philip.
Philip married Louise Élisabeth of France and the present pretending duke of Parma (Carlos/Carlo of Parma) is a direct descendant. The duchy was taken by the House of Savoy when the state of Italy was created.
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House of Bourbon-Parma Facts for Kids. Kiddle Encyclopedia.