Fashion Investments and M&A

Date: Announced 16 June 2018
Buyer: George Feldenkreis
Target: Perry Ellis International Inc
Business: Clothing designer and retailer
Value: US$437 million
Details: The target has agreed to be taken private by its founder and board member, Mr Feldenkreis, in a deal reportedly valued at approximately US$437 million. A newly formed entity controlled by Mr FeldenKreis will acquire all of the outstanding common shares of the target not already beneficially owned by the Feldenkreis family for US$27.50 per share in cash.

Date: Closed June 2018
Buyer: Puig
Target: Dries Van Noten
Business: Belgian fashion brand
Value: Undisclosed
Details: Spanish family-owned fragrance and fashion firm Puig (owner of the Carolina Herrera, Nina Ricci and Jean Paul Gualtier brands), has acquired a majority stake in Dries Van Noten. Dries Van Noten has retained a minority stake and remains the brand’s chief creative officer and Chairman of the Board.

Date: June 2018
Buyer: Vaultier7
Target: The Modist
Business: Online fashion retailer
Value: $15million
Details: Female-led investment fund, Vaultier7, specialist in consumer businesses in the health, beauty and lifestyle sectors has led a $15million investment round in Dubai and London based online retailer The Modist. The Modist has released a stating saying it intends to use the money to “further grow and consolidate: its leading position in core markets”.

Date: Closed 21 May 2018
Buyer: CorpAcq
Target: Cotton Traders Limited
Business: Altrincham based casual clothing retailer
Value: Undisclosed
Details: Buy & build acquisitions group CorpAcq has acquired a majority stake in Cotton Traders for an undisclosed amount. Founders, former England rugby players Fran Cotton and Steve Smith, will remain on the board, whilst Jon Dorsett, CorpAcq’s investor director, will be appointed as a non-executive director.

Date: Announced 14 May 2018 (closing expected to take place later this year)
Buyer: Burberry Group Plc Vendor: CF&P Srl
Business: Development and manufacture of luxury leather-goods including handbags and accessories
Value: Undisclosed
Details: Burberry Group Plc has agreed to acquire a luxury leather-goods business from Scandicci based Italian manufacturer, and long-standing Italian partner, CF&P Srl. The acquisition includes equipment, inventory and CF&P employees, including a team of expert craftsmen.

Date: Announced 10 May 2018 (closing in Q3)
Buyer: Canadian Tire Corp
Target: Helly Hansen
Business: Global brand and leader in sportswear and workwear
Value: C$985 million
Details: Canadian Tire Corporation, has agreed to acquire the Norway based company that owns and operates the Helly Hansen brands and related businesses from the Ontario Teachers’ Pension Plan, for $985 million, (which assumes approximately $50 million of operating debt, net of cash).

Date: Closed 4 May 2018
Buyer: Fosun Industrial Holdings Limited
Target: Wolford AG
Business: Luxury hosiery, bras and bodywear retailer
Value: Approximately EUR 12.80 per share (unconfirmed)
Details: Chinese private conglomerate Fosun Industrial Holdings Limited has become the majority shareholer of Vienna listed Wolford AG, having acquired a 50.87% stake in the luxury textiles firm from the former major shareholder group. The deal reportedly included Fosun agreeing to provide EUR 22 million of fresh equity to the target company.

Date: Announced 2 May 2018 (exchanging end of June 2018)
Buyer: C.banner
Target: House of Fraser Group Ltd
Business: Department store group in the UK and Ireland
Value: Undisclosed
Details: Chinese retail conglomerate C.banner, owner of iconic toy store Hamleys, is to acquire a majority (51%) stake in department store group House of Fraser from Nanjing Cenbest, House of Fraser’s parent company, together with a subscription for fresh equity. Nanjing Cenbest will remain a significant minority shareholder.

Date: Announced 30 April 2018
Buyer: Authentic Brands Group LLC (ABG)
Target: Nautica brand
Business: Iconic American lifestyle brand
Value: Undisclosed
Details: ABG, a New-York based brand development, marketing and entertainment company which owns brands including Juicy Couture, Jones New York, Herve Leger and Judith Leiber, acquires the Nautica brand, including its brand marketing and licensing functions, from VF Corporation, a branded lifestyle, apparel, footwear and accessories company listed on the NYSE.

Date: Announced 30 April 2018 (closing 30 June 2018)
Buyer: Amer Sports Corporation
Target: Peak Performance brand
Business: Swedish premium performance outerwear and streetwear brand
Value: DKK 1.9 billion (approximately £225 million)
Details: Amer Sports Corporation, a sporting goods company listed on the Nasdaq Helsinki stock exchange, has agreed to acquire Peak Performance, a Swedish premium performance outerwear and streetwear brand, from IC Group, a Danish-listed brand portfolio company.