September 23, 2019: The Carlyle Group LP (NASDAQ: CG) The Carlyle Group intends to withdraw from the luxury Italian footwear high-end brand cheap golden goose acquired two and a half years ago.
The 24-hour Sun reported that the US private equity firm has hired Bank of America Corp. Bank of America to evaluate the best divestment method including IPO or sale, and it is likely to complete operations in the second half of 2020.
It is reported that after Carlyle Group LP Carrele Group bought Golden Goose from Ergon Capital Partner SA in 2017 with a valuation of 400 million euros, the well-managed brand has returned more than 200 million euros in dividends, including 120 million in the previous fiscal year. EUR. Golden Goose’s strong momentum is also why the Carlyle Group LP Carlyle Group did not set an urgent timetable for the exit. In 2018, the brand achieved revenue of 185 million euros and EBITDA EBITDA was 80 million euros.
The market estimates that Golden Goose will seek to sell a value of 1 billion euros. The 24-hour Sun newspaper previously claimed that Tapestry Inc. (NYSE: TPR), which owns Coach Coach, Kate Spade and Stuart Weitzman, intends to acquire the brand.
In 2013, DGPA SGR SpA Riello Investimenti Partners was able to hold the Golden Goose Deluxe Brand, which was established in 2010 for only €45 million. In May 2015, this portion of the equity was transferred to the mid-market investment company Ergon Capital Partners and Zignano Holding SpA, which was only involved in a minority stake, the amount of the transaction was not disclosed, and the brand co-founder and creative director Alessandro Gallo, Francesca Rinaldo continues to retain the remaining 25%.
Golden Goose Deluxe Brand stands out in the background of the sporting and leisure trend in the world in recent years with the classic style of “dirty white shoes”, and has expanded into a clothing line, the maximum price of the jacket is more than 2,000 euros. At present, the brand is mainly distributed through wholesale channels. There are about 750 global sales points. In 2012-2014, its business has doubled its business and its annual operating profit is about 32 million euros.
Carlyle Group LP The Carlyle Group invested in Moncler SpA (MONC.MI) in 2008. Moncler SpA was listed on the Milan Stock Exchange in 2013. In June 2014, Carlyle Group LP Carlyle Group completely withdrew.