All M&A articles – Page 24
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Article
Klarna valued $10.65 billion in funding round
Klarna, the Swedish provider of online payment services, raised $650 million in an equity funding round, which values the whole company $10.65 billion. Klarna claims that the valuation ranks it as the highest-valued private fintech in Europe and the 4th worldwide. The funding round was led by Silver Lake, a ...
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News briefs
Shoe Zone CEO and chairman increase their stakes
Anthony Smith, the chief executive of Shoe Zone, and Charles Smith, the company’s chairman, have increased their stakes in the British footwear retailer by buying the shares owned by Jeremy Sharman, a non‐executive director of the company who has decided to leave the board after holding a seat for nine ...
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News briefs
German shoe chain Dielmann seeks investors
On Sept. 1, the Darmstadt District Court opened creditor protection proceedings for the local footwear chain Schuhhaus Dielmann and the sports retailer Sporthaus Robert Hübner. Self-administration was decided for both companies. The previous managements stepped down from both companies in June with the application of so-called protective shield proceedings. The ...
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News briefsWalmart launches Walmart+ membership program
Walmart is launching the membership program Walmart+, its much anticipated response to Amazon Prime. Membership will be available to all U.S. customers on Sept. 15. It will cost $98 a year or $12.95 a month and includes a 15-day free trial period. Members will receive unlimited free delivery from stores, ...
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ArticleDeichmann unit vanHaren to buy 43 Brantano stores in Belgium
The Dutch footwear retailer vanHaren, a unit of the German retailer Deichmann, will take over 43 Brantano stores located in Belgium on Oct. 1. This represents less than half of Brantano’s more than 100 stores in the country. The details of the agreement still have to be defined, including the ...
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News briefs
Lanxess sells organic leather chemicals business, launches Adiprene Green
The German specialty chemicals company Lanxess is selling its organic leather chemicals business to TFL Ledertechnik. The purchase price is made up from a fixed component of €80 million and a performance-related component of up to €115 million. In addition, TFL will assume certain liabilities associated with the business. Lanxess ...
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ArticleACBC raises €2.3 million in capital hike
ACBC, a Milan-based start-up company that is offering a modular footwear technology, completed a €2.3 million capital increase in which a pool of investors took part. The online investing platform Doorway put nearly €1 million into the company through the capital injection. ACBC said that it has raised all the ...
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News briefs
ABG, SPARC picked to buy Brooks Brothers for $325 million
The iconic American apparel group Brooks Brothers has selected Authentic Brands Group (ABG) and its partially owned retail unit SPARC as the winning bidders of a competitive sale process after they increased their offer to $325 million for the vast majority of the company’s global business operations as a going ...
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News briefs
Chanel buys Italian tannery Conceria Gaiera
The French fashion house Chanel has further tightened the control of its supply chain by buying the Italian tannery Conceria Gaiera that supplies leather for footwear and leathergoods, according to the website La Conceria. The tanner was founded in 1946 and is based in Robecchetto con Induno, Lombardy. It will ...
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News briefsHurley family takes over Simple
Kandui Holdings, founded by the Hurley family, has acquired the assets and intellectual property of the American brand Simple from KTSimple. Financial details were not disclosed. The acquisition is being carried through Simple Shoes, that will continue all ongoing operations with plans to enhance and evolve the Simple brand over ...
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ArticleMoreschi’s relaunch is in turmoil
The Moreschi family is seeking to block the transfer of a 50.37 percent in the namesake company to Hurley, a Swiss company run by Guido Scalfi, on the grounds that an agreement to relaunch the company is not being respected. In a statement, the Moreschi family said “we will not ...
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ArticleFrench court clears André’s takeover by its former CEO
On July 28, a commercial court based in Grenoble, France, authorized François Feijoo to take over from Aug. 5 the footwear retailer André. The company filed for bankruptcy on March 23 after its owner Spartoo was unable to obtain sufficient financing to continue the business. Feijoo was the only investor ...
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Article
Chaussea obtains 128 La Halle stores
The French footwear retailer Chaussea is taking over 128 stores and 700 employees of the apparel and footwear retailer La Halle, which is being sold piecemeal after filing for insolvency. Founded in 1984 in Valleroy, near Metz, by Gaëtan and Michel Grieco, the sons of Italian immigrants from Basilicata, the ...
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News briefs
Iconix to review alternatives including a sale or merger
Iconix Brand Group, an American manufacturer and retailer of apparel and footwear, is studying “strategic alternatives” to enhance shareholder value, including a potential sale of the company or a merger with another party. The board has authorized management and its external advisors to consider a “broader range of strategic alternatives, ...
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Article
Partial management buy-out for Globus
Globus, the big Swiss department store chain, and its Navyboot and Schild subsidiaries are changing hands again, just a few months after the Austrian-based Signa Retail Group and Thailand’s Central Group joined forces to take over the Swiss group this past February from the previous owner, the Migros cooperative of ...
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News briefs
Daniel Footwear buys Johnsons Shoe Company
Newjohn Limited, a unit of the retailer Daniel Footwear, has bought Johnsons Shoe Company, a British family-run retailer, which fell victim to the Covid-19 pandemic and was placed into administration, a procedure which gives it protection from creditors, on April 23. Johnsons Shoe Company has been trading since 1952. Johnsons ...
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News briefs
Falc buys Candice Cooper
The Italian footwear group Falc has bought Candice Cooper, a brand of luxury sneakers manufactured in Italy, from Swiss-based Candice Cooper AG. Despite the takeover, the autumn/winter collection will continue to be distributed by the former owner. Falc will manage the spring/summer 2021 collection, which will offer a larger women’s ...
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Article
Antares eyes distressed Italian fashion assets
Italian private equity and debt-management group Antares is launching a new fund targeting investments among the country’s small and mid-sized financially-struggling fashion companies, whose ranks have grown with the Covid-19 pandemic. Antares has already raised €50 million in fresh cash for its “luxury and lifestyle” turnaround fund, largely with Italian ...
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ArticleChange of ownership for Clergerie
First Heritage Brands has sold Maison Clergerie, the French maker of luxury footwear, to French Legacy Group, an investment fund of Swiss-based Mirabaud Asset Management. The financial terms of the transaction could not be obtained. In 2011, Robert Clergerie, the designer and founder had sold his company to First Heritage ...
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News briefsHermès’ purchase of J3L cleared by the French antitrust agency
The French antitrust agency, Autorité de la concurrence, has authorized, without conditions, Hermès’ plans to take full control of J3L, that it currently jointly controls, on the grounds that the transaction does not hinder competition. J3L produces high-end metal parts for luxury companies, especially for handbags, briefcases, wallets and shoes. ...
