French sportswear brand Le Coq Sportif has received a EUR10m (US$11.35m) investment from private equity firm Mirabaud Patrimoine Vivant, which it says will allow it to “pursue its current industrial and sporting development.”
According to reports, the investment is in exchange for a stake in the business, which Mirabaud acquired from majority shareholder Airesis, owner of the Le Coq Sportif brand since 2005. However, neither party would confirm the size of the stake they now each hold when approached by just-style.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“Airesis warmly welcomes Mirabaud Patrimoine Vivant. We have great things to accomplish together. To be a supplier for everyone who loves sport – for the champions, but also for amateurs and fans. To stay close to our customers, to our talents and our partners. To convey through sports emotions, a sense of sharing and a positive spirit. These are the aims of Le Coq Sportif and we are delighted that Mirabaud Patrimoine Vivant will be working alongside us on these projects”, says Marc-Henri Beausire, Airesis CEO.
Renaud Dutreil, co-founder of the investment fund, also expressed confidence in the move: “Our investment in Le Coq Sportif is emblematic of our strategy, which is based on three principles: to support entrepreneurs with strong convictions, to promote manufacturing skills, especially in France, and to develop the reputation of a brand known for its innovation and creative values.
“Marc-Henri and his teams have done some remarkable work, combining respect for the brand’s roots in manufacturing, sport and the regions. His emphasis on the exclusive know-how of men and women, and on managing through team spirit, is exceptional. For me, Le Coq Sportif embodies the encounter of sport and style. It has the potential to become one of the major kit suppliers in the world.”
In its 2018 preliminary results, Le Coq Sportif reported a 3-5% increase in full-year revenues to EUR121-123m. FY earnings before interest, tax, depreciation and amortisation grew to between EUR4.5-5.5m compared with EUR3.8m a year earlier. For 2019 it is expected to turn over at least EUR135m.
