Swiss retailer Maus Freres Group acquires Lacoste
15 Nov 2012
Maus Freres Group, one of Switzerland's largest retail groups, today said that it has fully acquired French classic fashion brand Lacoste SA.
The deal valued the French sportswear maker at €1.3 billion, Geneva-based Maus Freres said in the statement.
"All Lacoste family shareholders have decided to sell the totality of their shares to Maus Freres, which already held 35 per cent of Lacoste capital via its subsidiary Devanlay."
Maus Freres Group, already holding 35 per cent in Lacoste, had last month acquired an additional 30.3 per cent, valuing Lacoste at between €1 billion to €1.25 billion ($1.29-$1.62 billion).
Family-owned Maus Freres acquired the additional stake from Lacoste's family members, including Michel Lacoste, the company's former chairman and CEO and the son of Rene Lacoste, a former tennis champion and founder of the company with the crocodile logo.
A group of Lacoste shareholders last week said that they plan to sell their combined 28 per cent stake to Maus Freres.
