Ergon acquires Golden Goose from Riello and DGPA for more than €100m

A source close to the situation told unquote" the deal values the company's equity at around 10x EBITDA, which in 2014 stood at around €10.5m.

Capital for the transaction was drawn from Ergon Capital Partners III, a €775m vehicle which held a final close in March 2010.

Following completion of the deal, DGPA's Roberta Benaglia will remain as CEO, while the company's founders, Alessandro Gallo and Francesca Rinaldo, will also continue as directors.

Previous funding
DGPA and Riello acquired a 75% stake in the business in March 2013 in a deal that gave Golden Goose an enterprise value in the region of €40m, unquote" understands.

Company
Founded in 2000 and headquartered in Venice, Golden Goose produces clothing, shoes and accessories. It has a network of seven own-brand stores in Milan, Amsterdam, New York, Paris, Beirut and Tokyo, in addition to a distribution network of 600 third-party retailers.

The business generated a turnover of €48m in 2014, up 60% on the previous year. Golden Goose anticipates this will increase to €70m in 2015, with EBITDA expected to rise to around the €15m mark. Around 50% of its revenues are generated outside Italy.

People
Emanuele Lembo is managing partner of Ergon in Italy and Riccardo Collini is a partner at the firm.

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• Topics
• Exits
• Southern Europe
• Consumer
• Buyouts
• Italy
• Riello Investimenti
• Unq2015June