Fashion M&A

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.

Date: 10 September 2018
Buyer: Ted Baker
Target: No Ordinary Shoes Limited and No Ordinary Shoes USA LLC Vendor Pentland Group Plc
Business: Footwear retailer
Value: Up to £21million (£13million on closing plus a net asset adjustment expected to be between £4-8million)
Details: Ted Baker brings its UK and US footwear operations in house with the purchase of No Ordinary Shoes Limited and no Ordinary Shoes USA LLC in a deal financed by Ted Baker’s existing bank facilities.

Date: 03 September 2018
Buyer: The Hut Group
Target: Acheson & Acheson
Business: Manufacturer for prestige beauty brands
Value: Between £50million – £100million
Details: Manchester based beauty tech firm, The Hut Group, has acquired beauty products manufacturer Acheson & Acheson indicating it is planning to spend a further £50million on expanding the target’s business formula in Europe and the US.