UK: Wacoal acquires Eveden Group for GBP148m
Japanese firm Wacoal has acquired UK lingerie and swimwear company Eveden Group for GBP148m (US$236.9m), including debt.
Wacoal today (30 March) announced the acquisition of the Northamptonshire-based business, which owns the Fantasie, Freya, Huit, Fauve, Elomi and Godess brands.
"Our acquisition of Eveden, a company which has established a leading presence in the key markets of Europe, North America and Australia significantly accelerates our corporate strategy for overseas expansion. We look forward to working with the Eveden team and developing our businesses together," said Wacoal America president Richard Murray.
Eveden recently announced that net sales to the year ended June 2011 were up 18% year-on-year to over GBP80m.
PwC Corporate Finance acted as advisers to the Eveden Group.
Japanese lingerie manufacturer Wacoal posted a slight drop in first-quarter net income on the back of strategic investments. ...
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