Since February 2017, luxury clothing manufacturers and sports shoes Golden Goose controlled by Carlyle will compete in Advent International, Permira, Cinven, Apax Partners and Eurazeo. Il Sole 24 Ore writes, recalling that the Carlyle Group’s donation last summer was sent to Bank of America Morrill Lynch to process the transaction, but did not rule out the possibility of an initial public offering. In any case, everything will happen in the first half of 2020.
In April last year, the Carlyle Group received some interest from private equity funds or strategic groups that they had not expressed, but she is said to have rejected these statements because their valuation is less than 1 billion euros (see BeBeez’s other articles). It is said that the offer also includes the offer of American luxury giant Tapestry, which owns the Coach, Kate Spade and Stuart Weitzman brands. Control of Pvh, which also controls Tommy Hilfiger and Calvin Kleine; and Vf Corporation.
Golden Goose produces luxury clothing and is known for its sneakers. It was founded in 2000 and is headquartered in Venice. Golden Goose Deluxe Brand is distributed globally through exclusive multi-brand stores and franchise networks and directly managed flagship stores.
The company’s revenue at the end of 2018 was $185 million, EBITDA was 55 million, and its net financial position was slightly below 100 million, a sharp drop in two years compared to the current 3.5 times leverage. Buyout. Thanks to these results, the company paid a special dividend of $100 million to the Carlyle Group last April, allowing the fund to return about half of its equity investment (see other BeBeez articles).
The Carlyle Group acquired Golden Goose in February 2017 through its Carbele Europe Partners IV fund (see other BeBeez articles). The Ergon Capital Partners III fund led a pool of investment, including DVR Capital, which acquired a majority stake in cheap golden goose in May 2015 (selling Carlyle with an equity value of €400 million). See company founders Alessandro Gallo and Francesca Rinaldo, as well as Riello Investimenti AG and then Dgpa AG (now Syle Capital AG, partner Roberta Benaglia remains the head of the company). As part of the transaction, Zignago Holding SpA acquired a minority stake as a co-investor, with the company’s founders holding 13% of the shares and 3% of the management