Corporate and M&A – Page 9
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ArticleVam Investments buys 80% of Demenego
The Milan-based private equity Vam Investments has bought an 80 percent stake in Demenego , an Italian eyewear producer which also manages 16 points of sale. The De Menego family will retain a 20 percent interest in the company, which posted sales of €23 million in 2019 and ...
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ArticleKKR buys 1-800 Contacts
The investment firm KKR has agreed to buy 1-800 Contacts , the American online retailer of contact lenses, from AEA Investors , which acquired the company in January 2016. No financial details were disclosed but the news agency Reuters cited an unnamed source indicating that the deal ...
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ArticleU.S. delays TikTok ban to Sept. 27 as Trump gives blessing to deal with Oracle, Walmart
The U.S. Department of Commerce said that it has delayed until Sept. 27 the prohibition of the Chinese mobile application TikTok . The department had previously announced that the ban would start today. The decision comes after U.S. President Donald Trump said he had given his “blessing” to ...
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ArticleSafilo secures €108.0 million government-backed financing
Safilo signed of a new term loan facility totaling €108.0 million which provides it with additional liquidity to finance its working capital and investment needs for activities located in Italy. The financing is guaranteed at 90 percent by the Italian export credit agency Sace . On April 8, ...
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ArticleEssilorLuxottica ready to pursue lawsuit against GrandVision after losing first round
Yesterday, a Dutch district court rejected EssilorLuxottica ’s request to obtain information from GrandVision to determine whether the Dutch retailer had breached the terms an agreement in view of its takeover by Essilux. The court said that the large volume of corporate information that Essilux is seeking to ...
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ArticleABG, 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 ...
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ArticleBausch Health to spin off its eye health unit
Bausch Health intends to spin off its eye health business into an independent publicly traded entity. It will be an integrated, pure play eye-health company built on the Bausch + Lomb brand. The timing of the spinoff is tied to certain conditions and approvals, including the reorganization ...
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ArticleGrandVision starts arbitration proceedings against EssilorLuxottica
GrandVision has initiated arbitration proceedings against EssilorLuxottica ’s claims that the Dutch retailer had breached its obligations under the co-called “Support Agreement” in managing its business during the Covid-19 pandemic. GrandVision reiterated that it strongly disagrees with EssilorLuxottica’s accusations. It added that it has initiated the arbitration to ...
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ArticleEU suspends deadline for probe into Essilux’s takeover of GrandVision
The European Commission has suspended the deadline for the end of an in-depth investigation into EssilorLuxottica ’s proposed €7.2 billion takeover of GrandVision , according to a filing on its website. The commission has repeatedly postponed the deadline. The last one being August 27. The proposed ...
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ArticleEssilorLuxottica sues GrandVision over Covid-19 disclosure
EssilorLuxottica has initiated legal proceedings before a district court in Rotterdam to obtain information from GrandVision regarding the management of its business during the Covid-19 pandemic and the extent to which it has allegedly ”breached its obligations under the support agreement.” The Franco-Italian eyewear company, which ...
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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 ...
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ArticleEU may ask Essilux to sell stores in GrandVision deal
The European Commission may ask EssilorLuxottica to sell stores in Italy and another EU country, either France or the Netherlands, to secure its planned 7.2 billion euro acquisition of GrandVision , according to the newspaper Financial Times . But the company has not yet committed to selling ...
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ArticleInspecs takes over Norville’s manufacturing operations
(Update) Inspecs has bought the manufacturing operations of The Norville Group that was placed into administration after becoming insolvent. The assets were bought from the administrator, BDO LLP , for £2.4 million in cash (€2.6m-$3.0m). The acquisition includes £1.2 million (€1.3m-$1.5m) of freehold property for Norville’s Gloucester ...
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ArticleHow are retailers managing excess stock in Covid-19 times?
Managing stock has always been a tricky part of any business. But it becomes even more so when demand evaporates overnight as occurred with the outbreak of the Covid-19 pandemic and the subsequent lockdowns worldwide, prompting manufacturers and retailers to be nimble and explore various different solutions.
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Italian components group Margot looks to grow
Margot, an Italian group that makes metallic components for luxury leather goods, shoes and eyewear that is controlled by the private equity Mandarin Capital Partners , is looking to expand with an acquisition in the third or fourth quarter of this year, says Andrea Tuccio , a partner with Mandarin. ...
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ArticleRodenstock completes a €75 million capital increase
Rodenstock has obtained funds from its shareholders to finance its development while its business is recovering faster than expected from the coronavirus crisis.
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L’Amy gets protection from creditors
L’Amy , one of the oldest eyewear manufacturers in France, has requested and obtained bankruptcy protection from its creditors. Philippe Jeannerot , the court-appointed receiver, said it is waiting for the presentation of a restructuring program, but he denied a report that its shareholders may be looking for a new ...
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Cecop moves into North America
Cecop , the international buying group based in Madrid, has entered the Northern American market, acquiring 600 new retail members in the region through its takeover of the Combine Buying Group , an organization that provides various services to independent opticians. Based in New York, the American buying group ...
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OWP takes over Flair
OWP Brillen , owner of the private OWP and Metropolitan brands as well as the licensed Mexx eyewear brand, acquired the Beck Group , including its subsidiary Bexx Brillenmode, on March 17. The Beck Group, located in Oelde, Germany, is better known for its high-end Flair ...
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ArticleInspecs’ new Vietnamese factory attracts new clients
The Inspecs Group suffered delays in the extension of its Vietnamese factory as a result of the Covid-19 pandemic. But the project is nearing completion and production in the new section is scheduled to start towards the end of the second quarter. In the meantime, the company is shipping ...
