Karmijn invests in Estral

Karmijin has acquired a majority stake in the business, buying the shares from founder Fred de la Bretonière. In conjunction with the deal, de la Bretonière has retired and stepped down from the board of directors, but will remain involved in the company as its designer.

The GP is currently investing from its maiden fund, Karmijn Kapitaal I, which held its final close on €50m in November last year.

The deal marks the fifth investment made by Karmijn. The firm's most recent deal took place in December last year, when it acquired a minority stake in Tuvalu Media, a Dutch television and film production company, as part of a management buyout.

Company
Founded in 1970 and headquartered in Waalwijk, Estral is the parent company of shoe and accessory brands Shabbies Amsterdam, Fretons and Fred de la Bretonière, which is named after the company's designer.

The company operates 12 brand-only stores across the Netherlands and has recently opened its first store in Belgium. The brands are also sold in shoe and fashion stores across Germany, Belgium, Scandinavia and Canada.

People
Désirée Van Boxtel is a partner at Karmijn.

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• Topics
• Buyouts
• Benelux
• Consumer
• Netherlands
• Karmijn Kapitaal