Calida Group is acquiring a strategic stake in Lafuma Group, the leading French sports and outdoor clothing producer and home of the well-established brands Lafuma, Millet, Eider and Oxbow. Calida, which is quoted on Euronext, generated €225 million of sales last year and has around 1,600 employees. This strategic investment provides Calida with access to a new business segment with attractive growth prospects.
As already communicated on various occasions, Calida Groups longstanding aim has been the strategic expansion of its business portfolio. With this in mind, the board of directors has decided to take this unique opportunity to invest in a maximum of 29 percent of Lafuma Groups capital. Lafuma has an attractive portfolio of brands in the growing sports and outdoor clothing market.
Calida Group will take over the 15.2 percent equity stake in the French group currently owned by the founding Lafuma family. Secondly, Calida Group will participate in Lafumas planned capital increase in order to raise its strategic investment after completion of the transaction to a maximum of 29 percent. Lafuma intends to increase its nominal equity capital by 50 percent in order to ease a liquidity situation that has become tight as a result of the difficult market environment, and to create a foundation for further healthy growth. The terms and conditions of the capital increase will be defined and published very soon.
Philippe Joffard, the longstanding chairman and CEO of Lafuma Group, will hand over operational management of the company to Felix Sulzberger, CEO of Calida Group. Felix Sulzberger has been a member of Lafumas board of directors since 2004, so he is very familiar with the French sports and outdoor clothing companys business. In order to ensure the management transition is stable and smooth, Philippe Joffard will remain as chairman of the board of directors until the forthcoming General Meeting of Shareholders, and then resign.
Over the course of 28 years, Philippe Joffard has built Lafuma up from a company with a €16 million turnover to its current size – with four well established brands in the
sports and outdoor segment, and turnover of € 225 million.
“Philippe Joffard deserves respect for all he has done, Suzlberger said. Lafuma will build on healthy foundations to continue the profitable development of its high-potential brands. The investment represents an attractive addition to Calida Groups traditional brand portfolio in bodywear and lingerie.
The Calida-Group is comprised of the Calida and AUBADE brands and employs about 1,500 people. Group sales in 2011 amounted to CHF 206.2 million. The Calida-Group is listed on the SIX Swiss Exchange. The Calida brand, with its headquarters in Sursee, Switzerland, is one of Europe’s leading bodywear brands with its main markets in Switzerland and Germany. Its high quality day- and nightwear for women, men and children has been impressing consumers since 1941 by virtue of excellent quality, comfort and natural materials. The Audbade brand, with its headquarters in Paris, is a leading luxury lingerie brand which excels through innovative styling, seduction, creativity and glamour. The campaign under the title “Leçons de seduction” enjoys cult status in France and gave the brand worldwide recognition.
