M&A Roundup: The Buzz On The Industry’s Latest High-Profile Deals

Stalled momentum in the mergers-and-acquisitions space had made market watchers nervous at the tail end of the summer and into September. But a new wave of high-profile dealmaking has shifted the current.

In case you missed it, here are the newest footwear-and-apparel partnerships that are creating buzz.

Kurt Geiger Sold To Cinven (December 13)

Sycamore Partners sold the British footwear giant to European private equity firm Cinven in December. The transaction was reportedly valued at $372 million. The deal marks Cinven’s first accessories buy, while the company became Kurt Geiger’s third owner in four years.

Kering Sells Sergio Rossi (December 9)

Kering shed Italian luxury footwear brand Sergio Rossi in December, selling 100 percent of the business to European investment house Investindustrial. Sources estimated the selling price was 40 million and 50 million euros, or $43.4 million to $54.3 million, which includes the brand’s factory outside Florence, Italy.

Silverfleet Capital Sells Office Chain To Truworths (November 30)

European private equity firm Silverfleet Capital agreed to sell its British fashion footwear retail chain, Office, to Truworths International, a South African fashion retailer. The transaction was valued at 256 million pounds, or $385 million.

Tod’s Snaps Up Roger Vivier Trademark (November 23)

Italian luxury-goods maker Tod’s SpA announced in late November its intention to purchase the Roger Vivier trademark for 415 million euros, or $441.7 million. Tod’s CFO Emilio Macellari characterized the agreement as adding “great strategic value to the group and significantly strengthening its brands’ portfolio.”

Genesco Acquires Canadian Shoe Store Little Burgundy From Aldo (November 3)

Genesco Inc., owner of family-footwear retail chain Journeys and other popular names, made a move to expand its reach in Canada, snapping up Little Burgundy from Aldo Group in early November. Little Burgundy, which has 37 stores in Canada, targets 18-to-34 year-old, fashion-focused shoppers. The terms of the deal were not disclosed.

Hudson’s Bay Co. Closes Galeria Holding Deal (September 30)

Hudson’s Bay Co. closed its purchase of Galeria Holding in late September to create HBC Europecomprised of German mega-department store chain Galeria Kaufhof, Belgium department store Galeria Inno and Sportarena. The deal was valued at 2.5 billion euros, or $2.8 billion. HBC is becoming an aggressive player on the M&A scene, with chatter emerging in mid-September that the company is in talks to purchase online retailer Gilt Groupe Inc.

Sycamore Partners Buys Belk For $3 Billion (August 24)

Just as market watchers, thirsty for the next major acquisition, were losing hope, New-York based private equity firm Sycamore Partners swooped in to buy department-store chain Belk for about $3 billion. Sycamore had been aggressively building and restructuring its portfolio during the last several years. In 2014, it bought Jones Group, which was comprised of Nine West, Stuart Weitzman, Kurt Geiger and other brands. It quickly sold off Stuart Weitzman at the start of 2015, to Coach Inc., and unloaded Kurt Geiger earlier this month.

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