The Swiss clothing group Calida Holding AG has taken another step forward in implementing its growth strategy. On Tuesday, the group announced it had signed a “binding agreement” to sell its outdoor division, Millet Mountain Group.
The segment, which includes the Millet and Lafuma brands, is now going to Jean-Pierre Millet and the investment company Inspiring Sport Capital. The grandson of the Millet founder submitted a takeover bid together with the private equity investor in December, but the Calida Group had to obtain the approval of the French works council before accepting it. According to the group, this has now been granted. The transaction is expected to be completed in the second quarter of the current year, the company announced.
The Calida Group announced the sale of its outdoor clothing brands last summer. The background to this is the Group’s strategy of focusing primarily on the core laundry business in the future. The parent company of the Calida and Aubade brands strengthened this area just a few days ago by taking over the Cologne brand Erlich Textil. The proceeds from the sale of the Millet Mountain Group will also be “primarily used for acquisitions in the underwear and lingerie sector,” the company said.
Continue reading:
- Calida Group takes over Cologne underwear brand Erlich Textil
- Calida Group: Millet’s grandson wants to bring mountaineering outfitters back to the founding family
- “Ambitious financial targets”: Calida Group presents growth strategy for the coming years
- Calida Group: Chief Digital Officer Stefan Mues says goodbye
- “Very pleasing half-year result”: Calida Group achieves high sales growth