The Calida Group has received an offer to sell the Millet Mountain Group. The interested parties are Jean-Pierre Millet, a grandson of the Millet founder, and Inspiring Sport Capital, a private equity company specializing in sports investments.
The sale is subject to a works council consultation process in France, announced the Calida Group on Friday. The Swiss clothing company could use the proceeds from this deal ambitious growth targets in which Calida focuses on the core areas of underwear and lingerie – with the brands Calida and Aubade – and with Lafuma Mobilier on outdoor furniture. Calida wants to use it to make acquisitions in the underwear and lingerie segment in particular.
“With the sale, we are consistently implementing the announced strategy. We are also particularly pleased that we can hand over the business to a representative of the Millet family, ”said Hans-Kristian Hoejsgaard, Chairman of the Board of Directors of the Calida Group.
The Millet Mountain Group generated sales of 78.2 million Swiss francs (around 75.2 million euros) in 2020 and employed around 750 people. The transaction is expected to close in the second quarter of 2022. The parties have agreed not to disclose the details of the transaction.
“I am delighted to become a major shareholder in Millet Mountain Group in partnership with Inspiring Sport Capital on the brand’s 100th anniversary and almost 50 years after they left the family,” said Jean-Pierre Millet. “Under the leadership of Romain Millet, who has been CEO since 2020, we will jointly drive the development of Millet and Lafuma, two iconic brands in the mountain and outdoor sector.”