Fashion Investments and M&A

Date: 12 November 2018
Buyer: Castanea Partners
Target: Proenza Schouler​
Business: Women’s wear and accessories
Value: Undisclosed
Details: Proenza Schouler founders McCollough and Hernandez have bought out private equity house Castanea Partners and certain other existing investors with the support of a group of new private investors.

Date: Announced 1 November 2018
Buyer: Canada Goose Holdings Inc
Target: Baffin Inc.
Business: Outdoor and industrial footwear designer and manufacturer
Value: 32.5 million Canadian Dollars
Details: Canada Goose Holdings Inc. has acquired the designer and manufacturer of outdoor and industrial footwear for a combination of cash and share consideration. Canada Goose has indicated that Baffin will remain a stand-alone business operating out of its headquarters in Ontario.

Date: 30 October 2018
Buyer: Sports Direct International Plc
Target: Evans Cycles
Business: Cycling equipment and attire
Value: £8 million
Details: Sports Direct has acquired the Evans Cycles brand and certain other assets in a prepack deal after the UK retailer fell into administration.

Date: Announced 22 October 2018
Buyer: B&M European Value: Retail S.A.
Target: Paminvest SAS
Business: French discount retailer Babou​
Value: 91.2 million euros
Details: B&M have purchased Paminvent SAS, which operates the Babou chain in cash in a deal financed through a loan facility which included the refinancing of the target’s debt.

Date: 12 October 2018
Buyer: Sports Direct International
Target: Frasers department store (property acquisition)
Business: Department store
Value: £95 million
Details: Sports Direct has acquired the iconic department store in Glasgow, which houses luxury brands such as Hermes, Prada and Gucci, and reportedly intends to continue to operate the property as Frasers.

Date: 12 October 2018
Buyer: Walmart Inc.
Target: Bare Necessities
Business: Intimates online retailer
Value: Undisclosed
Details: Walmart adds Bare Necessities to its portfolio in the online fashion space. Bare Necessities will continue to operate its site and run as a standalone brand to Walmart’s other e-commerce sites.

Date: Announced 28 September 2018
Buyer: /Investor: Chanel
Target: Orlebar Brown
Business: Luxury swimwear brand
Value: Undisclosed
Details: Privately owned Chanel has acquired Orlebar Brown from a number of shareholders, including founder, Adam Brown, and private equity house Piper for an undisclosed but reportedly substantial sum. In August the fashion press reported that the company was gearing up for a £50million sale.

Date: 19 September 2018
Buyer: /Investor: L-Gam Advisors Sarl​
Target: Woolrich International
Business: Outdoor clothing brand
Value: Undisclosed
Details: Luxembourg investment company L-Gam Advisors Sarl has acquired a majority stake in American outdoor clothing brand Woolrich International in an investment intended to assist the target in its international expansion plans.

Date: Announced 18 September 2018
Buyer: /Investor: Chanel
Target: Montres Journe SA
Business: Manufacturer of luxury time pieces
Value: Undisclosed
Details: Chanel has acquired a 20% stake in the Swiss company which produces high-end watches under the brand F.P. Journe in what Chanel say “is part of the desire to preserve and develop expertise and to support independent watch makers who share the same values of creation and excellence as Chanel”.

Date: Announced 14 September 2018
Buyer: Klarna Bank AB
Target: Close Brothers Retail Finance
Business: Retail finance provider
Value: Undisclosed
Details: Klarna has announced it has agreed to acquire Close Brothers Retail Finance from Close Brothers Group plc in a deal conditional upon obtaining approval to the change in control of the retail finance provider from the Financial Supervisory Authority of Sweden.