Eveden Group announces business sale to Wacoal Holdings
UK based lingerie and swimwear Group is acquired by Wacoal Holdings Corp, Japan
Eveden Group, supplier of premium lingerie and swim brands Fantasie, Freya, Huit, Fauve, Elomi and Goddess, today announced they have entered into an agreement to become part of Wacoal Holdings Corp.
The Northamptonshire based business, one of the leading suppliers of fuller bust and full figure lingerie and swimwear to over 5000 customers across 50 countries, will become a subsidiary of the Kyoto headquartered Wacoal.
Richard Murray, President of Wacoal America stated, “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.”
Tracy Lewis, CEO of Eveden Group stated, “We are excited to be joining the Wacoal Group, with whom we share a very similar business ethos, culture and values. Being part of one of the leading businesses in the lingerie sector presents us with both a huge opportunity to develop the reach of our brands globally and our teams with great benefits for business and personal development. “
Eveden Group recently announced consolidated net sales to the year ending June 2011 were up 18% year on year to over £80m.
The acquisition price, inclusive of debt to be assumed, is estimated at £148m
PwC Corporate Finance acted as advisors to Eveden Group