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The Carlyle Group to Acquire 100% of Golden Goose Deluxe Brand from a pool of investors led by Ergon Capital
Milan/Brussels - Global alternative asset manager The Carlyle Group (NASDAQ: CG) coupled with a pool of investors led by Ergon Capital Partners today executed the seek the acquisition by Carlyle Europe Partners IV (CEP IV) of the entire shareholding in Golden Goose Deluxe Brand, an Italian luxury lifestyle fashion company. Today the company is controlled by Ergon Capital Partners III S.A. and participated by Zignago Holding S.p.A., the companys founders and the Management green tea.
The transaction is in order to close by the end of March 2017. The investment will be made by Carlyle Europe Partners IV (CEP IV), a European-focused upper-mid market buyout fund. Golden Goose Deluxe Brand will be Carlyles fourth significant investment as European fashion and apparel sector following previous investments in Moncler, TwinSet Simona Barbieri and Hunkemoller.
Established in 2000 with headquarters in Venice, Italy, Golden Goose Deluxe Brand is a fast-growing high-end lifestyle fashion company, with strong positioning in luxurious home market sneaker market globally. Mainly because of its distinctive product design and appeal, in recent years the company has already delivered a consistent status continuous high growth, generating more than 100 million Euros revenues in 2016, with international markets making up almost 60% of such revenues.
Golden Goose Deluxe Brand is distributed worldwide through a network of more than 700 exclusive multi-brand stores and franchisees, along with 8 directly operated flagship stores.
Marco De Benedetti, Managing Director and Co-Head, Carlyle Europe Partners, said: We admire Golden Gooses stylistic unique brand identity, effective enterprize model and undisputed capability to innovate and build a new category of luxury fashion athletic shoes. We look forward to supporting Golden Goose Deluxe Brand with our strategic industry knowledge and thru investments to build the potential for the brand, especially in United States and Asia, and predominantly though an acceleration of its worldwide retail and online presence.
Emanuele Lembo, Managing Partner of Ergon Capital Advisors, added: This transaction is exactly in line with Ergons investment philosophy and approach as well as are very excited about the successful partnership that Ergon has established with an excellent management team as well as it's co-investors. Over existence of this investment, Ergon has supported the extraordinary improvement the company accelerating its sales growth, also through the event of the retail network, with a constant focus on operational excellence. We trust that Golden Goose Deluxe Brand and it's outstanding management team will succeed in further creating value in the future and we imagine that The Carlyle Group is the perfect partner for the companys next phase of growth.
The Carlyle Group was advised by DVR Capital, Bain & Company, KPMG and Latham & Watkins. The sellers were advised by Lazard, The Boston Consulting Group, PWC and Gianni Origoni Grippo Cappelli & Partners.