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| Eurazeo to acquire 45% of Moncler Eurazeo, Remo Ruffini, Carlyle and Brands Partners 2 announced that they have reached an agreement for Eurazeo to acquire a 45% stake in Moncler, the luxury apparel group, for a price of €418m. Remo Ruffini, the Chairman and Creative Director, will retain a 32% stake in the Company and Carlyle a 17.8% stake. The Moncler Group manages five brands: Moncler, Henry Cotton's, Marina Yachting, Coast Weber & Ahaus and a 18CRR81 Cerruti licence. Founded in 1952 in Grenoble, as a technical brand rooted in the iconic down jacket, Moncler is today one of the leading brands in luxury outerwear. Moncler has a network of 55 stores in Europe, Asia and North America as well as a developed wholesale network. In 2010 the Group had a global turnover of €429m, after sustained growth over the last 4 years, and over 1000 employees. Eurazeo, one of the leading listed investment companies in Europe, intends to fully support the strategy of Remo Ruffini and his management team: further expanding geographic reach notably in China and the United States, opening new stores in top-end locations, launching online sales, widening product offering with new collections and an expanded range. All this is targeted towards capitalizing on Moncler's growing recognition as a global luxury brand. In addition the Group will continue to develop and realize the full potential of the other brands it owns and manages. The transaction values the Moncler Group at an Enterprise Value of €1.2bn. This Enterprise Value represents a 12x 2010 EBITDA multiple. The closing of the transaction is anticipated in the 3rd quarter 2011. write your comments about the article :: © 2011 Construction News :: home page |