Fr2 Capital exits Vilebrequin to G-III Apparel

The deal was valued at €85.5m. G-III paid €70.5m in cash and €15m in unsecured promissory notes at 5% annual interest rate and maturing in December 2017. The buyer also committed to provide up to €22.5m in addition to the purchase price, depending on company performance over the next three years.

Previous funding
In December 2007, Fr2 Capital took a 100% stake in holding company TRB International, which owned the rights to the global operations and intellectual property rights of the Vilebrequin brand. Equity was invested from Fashion Fund I, which closed on €90m in 2006.

Company
Vilebrequin, founded in 1971, designs and distributes high-end swimwear and accessories. Headquartered in Geneva, Switzerland, the company reports sales of €45.1m.

People
Adu Advaney, co-founder of Fr2 Capital, has joined Vilebrequin's board as vice-chairman.

Advisers
Equity – Barclays (Corporate finance); Fulbright & Jaworski (Legal); Meyerlustenberger Lachenal Avocats (Legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• DACH
• Consumer
• Exits
• Now researching
• Switzerland
• Trade sale