FRANCE: GIMV, Alsace Capital snap up Wolf Lingerie
European investment fund GIMV and Alsace Capital have acquired a majority stake in French based underwear firm Wolf Lingerie for an undisclosed sum.
The transaction, which fits within the reorganisation of Wolf's capital, aims to further develop the group's position in France and internationally.
"The Wolf group became a sector benchmark thanks to its highly talented management team, its integrated model, innovative products and a price/quality ratio that is greatly appreciated by its consumers," said Anne Caron, partner at GIMV.
"We intend to support the group in its growth strategy by reinforcing the reputation of its brands in France and abroad, in addition to making targeted acquisitions."
The Wolf group designs, manufactures and distributes women's underwear, mostly under its own brands, in addition to designing and manufacturing collections for major retailers and international brands.
The company has been developing a multi-channel distribution channel over the last five years. In 2013, the group reported total sales of EUR56m (US$76.1m), having doubled revenues in ten years.
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