All M&A articles
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US regulator reportedly to vote on blocking Tapestry, Capri merger
The five commissioners of the The Federal Trade Commission (FTC) are scheduled to meet next week to vote on whether to file a lawsuit to block Tapestry’s $8.5 billion takeover of Capri Holdings, The New York Times reported, citing two sources familiar with the matter. The newspaper noted that the ...
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Sajaco Nordic takes over Morris-Accent from Rizzo Group
Following an accelerated bidding process, a unit of Sajaco Nordic has acquired Morris-Accent, the Norwegian subsidiary of Rizzo Group, a Swedish retailer of bags and accessories. Sajaco Nordic, which is based in Sweden, claims to be Scandinavia’s largest wholesaler of bags. On April 8, the ownership of the shares in ...
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ArticleFormer Kaufhof owner reportedly taking over Galeria Karstadt Kaufhof
According to the German business publication Handelsblatt, the US investor NRDC Equity Partners is to be granted the contract to operate the 92 locations of the German department store chain Galeria Karstadt Kaufhof. NRDC is the investment company of Canadian entrepreneur Richard Baker, who also owns a majority stake in ...
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ArticleDr. Martens urged to undergo a strategic review
Marathon Partners Equity Management is urging Dr. Martens to undergo a strategic review, including a potential sale of the company, to maximize shareholder value. The share price of the British bootmaker is down sharply since it was floated on the London Stock Exchange in January 2021. On April 4, Dr. ...
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Kering to buy a building in Milan for €1.3bn
Kering has acquired a historic building in Milan for about €1.3 billion from a subsidiary of Blackstone Property Partners Europe. Located via Monte Napoleone 8, on the “most prominent corner of the city’s Quadrilatero della Moda”, the 18th century building comprises five floors, totaling a gross area of 11,800 square ...
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ArticleKidpik and Nina Footwear are merging
Kidpik, a kids’ online clothing subscription-based company listed on the Nasdaq stock exchange in New York, and Nina Footwear, a private company operating a brand specializing in women’s and kids’ dress shoes, have agreed to combine. Under the deal, Kidpik will take over Nina Footwear through a reverse merger. Nina ...
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ArticleShoes For Crews files for Chapter 11 to sell a refinanced US business
Shoes For Crews and its US affiliates have filed for Chapter 11 relief in the United States Bankruptcy Court for the District of Delaware in order to sell the business rapidly as well as obtain the financial resources necessary to invest in growth across key markets globally. The Florida-based group ...
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ArticleTod’s shareholder calls for higher bid price to delist company
Tabor Asset Management, a US investment company that has a 1.1 percent stake in Tod’s, is urging shareholders to reject a public tender to delist the Italian fashion group on the grounds that it does not fully value the company. On March 22, the Italian stock market regulator Consob approved ...
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News briefs
Alibaba logistics unit Cainiao drops IPO plans
Alibaba announced that its logistics subsidiary Cainiao Smart Logistics Network Limited has withdrawn its initial public offering and listing application on the Hong Kong stock exchange. The Chinese online retailer plans to offer to minority shareholders of Cainiao, including employees, the possibility to sell all their shares for $0.62 per ...
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OTB takes over Calzaturificio Stephen
OTB, the Italian fashion group that owns the brands Diesel, Jil Sander, Maison Margiela, Marni and Viktor&Rolf, has bought a majority stake, through its unit Staff International, in the shoemaker Calzaturificio Stephen. No financial details have been disclosed. Founded in 1967 by Francesco Bertollo, Calzaturificio Stephen specializes in luxury women’s ...
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Capri Holdings buys the Tuscan shoemaker Sicla
Capri Holdings has agreed to acquire the Tuscan shoemaker Sicla to bolster its manufacturing capabilities. In 2019, Capri had already bought a Tuscan shoemaker, Alberto Gozzi, located in Pistoia, which supplies the group’s three brands. Sicla produces for Jimmy Choo, the luxury footwear brand owned by Capri along with Michael ...
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A/Impact invests in the Italian sustainable sneaker brand Id.Eight
A/Impact, a venture capital firm, backed by Avanzi - Sostenibilità per Azioni and the asset manager Etica SGR, investing in social and environmentally responsible projects, has decided to invest €350,000 in Id.Eight, a Florence-based sneaker brand that uses waste materials. The funds will help support the brand in its internationalization ...
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Italian regulator clears bid to delist Tod’s
The Italian stock market regulator Consob has approved the prospectus for the offer on Tod’s launched by the investment vehicle of L Catteron, a private equity firm backed by the French luxury goods group LVMH. The bid is for 9,255,498 ordinary shares, representing 27.968 percent of the share capital of ...
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Exor, WWICL invest in the fashion brand Subdued
The holding company Nuo has acquired a 30 percent stake in Osit, a Rome-based company active in the teenage fashion segment with the brand Subdued, for about €70 million. Nuo is equally owned by Exor, the holding company owned by Italy’s Agnelli family, and the Hong Kong family office The ...
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ArticleStyle Capital snaps up Autry, launches retail expansion plan
The Italian private equity group Style Capital has acquired a 50.2 percent stake in Autry International, the owner of the Italian sneakers brand Autry, and announced a retail expansion plan that will see the opening of more than 20 Autry brand stores in luxury shopping destinations in Italy and abroad. ...
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ArticleFormer Görtz CEO Frank Revermann takes over Onygo
Görtz’s former CEO Frank Revermann took over Deichmann’s sneaker and streetwear subsidiary Onygo, said the former parent company confirming media reports. At the beginning of October, Deichmann announced that Onygo would cease operations by August 2024 at the latest, citing major structural changes in the fashion retail sector, exacerbated ...
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Style Capital reportedly close to finalizing deal to buy Autry
The Italian private equity group Style Capital is about to close a deal to acquire a majority stake in the Italian sneakers brand Autry that would value the company at €300 million, according to media reports. Il Sole 24 Ore has reported that Style Capital could purchase 50.1 percent of ...
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Kuehne+Nagel buys City Zone Express
Kuehne+Nagel, the Swiss logistics group, has entered into an agreement to acquire City Zone Express, a subsidiary of Chasen Holdings, a Singapore-listed company. Headquartered in Malaysia and established in 2006, City Zone Express has over 500 employees and operates in Malaysia, Singapore, Vietnam, Thailand, and China. The company has a ...
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GXO Logistics bids for Wincanton
GXO Logisticsis is offering 605 pence (€7.06) per share for the British logistics firm Wincanton, outbidding CEVA Logistics, a French logistics and supply chain company. CEVA, a unit of French shipping group CMA CGM, recently upped its offer to buy Wincanton to 480 pence (€5.60) per share from a previous ...
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Creditors approve Schuhhaus Kocken’s restructuring plan
The creditors of the insolvent German shoe retailer Schuhhaus Kocken GmbH & Co unanimously cleared the company’s restructuring plan, which was then confirmed by the Mönchengladbach district court. The family-run retailer started insolvency proceedings under self-administration at the end of August 2023, after taking a hit from sluggish ...
