PPR enters into exclusive negotiations with Alpha Private Equity Fund 6 for Redcats to sell Cyrillus and Vertbaudet
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PPR has entered into an exclusive negotiation with Alpha Private Equity Fund 6 (’APEF 6’) for the sale of 100% of Redcats’ shares in the Cyrillus and Vertbaudet brands, which constitute Redcats’ Children and Family division, for an enterprise value of €119 million.
APEF 6 is a private equity fund specialized in the acquisition and development of medium-sized companies, including spin-offs from large corporations, with the support of their management teams.
This transaction would place Cyrillus and Vertbaudet in an excellent position to take advantage of their full potential and to continue their development.
The sale by Redcats of its Children and Family division constitutes a further step forward in the transformation of PPR into a global leader in apparel and accessories, within the luxury and sport & lifestyle segments.
The transaction, which is still subject to informing and consulting with employee representative bodies and to approval of the competition authorities, should be finalised in the coming months.
About Alpha Private Equity Fund 6 (’APEF 6’)
APEF 6 specialises in leveraged buy-out and capital development, targeting medium-sized companies (enterprise value between €50–500m) in France, Italy, Benelux and Switzerland. APEF 6 backs managers of growing companies that enjoy a strong and strategic position in their markets. They are generally family-owned companies or spin-offs from large corporations.
About PPR
The PPR Group empowers a coherent ensemble of luxury and sport & lifestyle premium brands, specialising in apparel and accessories, to reach their full growth potential. Distributed in more than 120 countries, PPR generated revenues of €12.2 billion in 2011 and had over 47,000 employees at year end. The PPR share is listed on Euronext Paris (FR 0000121485, PRTP.PA, PPFP).
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APEF 6 contacts
Press :
Patricia Desquesnes +352 27 47 07 28patricia@alphape.com
PPR contacts
Press :
Paul Michon 01 45 64 63 48pmichon@ppr.com
Hélène Saint-Raymond 01 45 64 61 20hsaint-raymond@ppr.com
Analysts/Investors :
Alexandre de Brettes 01 45 64 61 49 adebrettes@ppr.com
Edouard Crowley01 45 64 63 28ecrowley@ppr.com
Website: www.ppr.com