KKR close to €650m SMCP deal

KKR is understood to be in exclusive talks to acquire a majority stake in the SMCP holding, regrouping the Maje, Sandro and Claudie Pierlot brands. The GP would buy the 51% stake currently held by funds L Capital and Florac. The remaining 49% would still be controlled by Sandro and Maje founders as well as the group's current management.

L Capital and Florac acquired 51% of the French fashion group in 2010 for an undisclosed amount. The investors were then planning to accelerate the companies' international expansion, first in the US and then in Asia.

The estimated purchase price of €650m would roughly correspond to 11x SMCP's EBITDA, which stood at €60m last year according to reports. The group is believed to have posted a €390m turnover in 2012.

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• Topics
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• Buyouts
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• Secondary buyout