Mariella Burani adquiere el 100% de Mandarina Duck

6 respuestas en “Mariella Burani adquiere el 100% de Mandarina Duck”

1. tskno el 8 mayo 2008 11:00 am

   Les adjunto los detalles de la operación extraídos de digitallook.com, los cuales le han sido suministrados por RNS, el servicio de noticias de compañías del London Stock Exchange

   No sea que vayan a retirar la información y esta se pierda en la noche de los tiempos.

   Burani Designer Holding N.V.
   07 May 2008

   7 May 2008

   BURANI DESIGNER HOLDING’S LISTED LEATHER GOODS DIVISION ANTICHI PELLETTIERI ANNOUNCES THE ACQUISITION OF 100% OF FINDUCK, OWNER OF THE RENOWNED BRAND, MANDARINA DUCK

   Burani Designer Holding N.V (AIM: BRDH), a company offering Italian lifestyle products and services to customers world-wide, today notes that the company’s listed leather goods division, Antichi Pellettieri, majority owned by BDH’s subsidiary Mariella Burani Fashion Group S.p.A (MBFG), in which BDH holds a 61% stake, made the following announcement yesterday after market close:

   PRESS RELEASE
   ANTICHI PELLETTIERI
   Cavriago (RE) – May 6, 2008

   ANTICHI PELLETTIERI ACQUIRES 100% OF FINDUCK, OWNER OF THE RENOWNED BRAND MANDARINA DUCK, AND ACQUIRES THE REMAINING 14% OF FRANCESCO BIASIA

   Antichi Pelletieri S.p.A. , a leading Leather Goods company controlled by Mariella Burani Fashion Group, announces it has signed a contract for the acquisition of 100% of the stock of Finduck S.r.L. (“Finduck”), from Finduck Group S.p.A.

   Finduck, founded in Bologna, Italy in 1977 owns the Mandarina Duck brand.

   The Mandarina Duck brand, established amongst the leading international brands in the accessible luxury goods market, provides a full range of handbags and accessories for travel, work, and sports. The brand is particularly known for the light, functional nature of its accessories made possible by a unique, innovative mix of technical materials particularly suited to a young, dynamic
   clientele.

   Finduck generated approximately €67 million of revenues in 2007 with a corresponding Ebitda margin in excess of 13%. The majority of the company’s revenues are generated in Western Europe, providing Antichi Pellettieri an excellent opportunity to further develop the Mandarina Duck brand in emerging markets; markets that today generate over 40% of AP revenues.

   Over 40% of 2007 revenues were generated from Finduck’s extensive retail network that includes 94 Mandarina Duck boutiques world-wide (35 directly operated stores and 59 franchisees), of which 41 are located in Italy, 33 in other Western European countries, and 20 worldwide. The international retail network of Antichi Pellettieri (176 boutiques at December 31, 2007) will be complemented
   by the retail network of Finduck, and is expected to include over 285 boutiques by year end.

   The transaction

   The transaction structure provides that Antichi Pellettieri will acquire 100% of the equity of Finduck for €36.9 million.

   Finduck Group S.p.A. will acquire, from Mariella Burani Fashion Group, from a minimum of €16 million to a maximum of €22 million of Antichi Pellettieri shares at • 9.5 each (representing between 3.70% and 5.09% of the outstanding stock of AP). The AP shares acquired will be subject to a lock-up clause which expires at eight months intervals (8 months, 16 months, and 24 months after the date of closing) for one third of the total shares acquired at each interval. The price paid for the AP shares reflects a 20.4% premium above the average stock price of AP over the past three months.

   AP will assume the Net debt of Finduck, of €18.9 million at December 31, 2007.
   The enterprise value of Finduck in this transaction is calculated as €55.8 million, resulting in a 2007 EV/Ebitda multiple of 6.2x.

   The closing is subject to the completion of a restructuring process within Finduck and approval from the Italian and German antitrust authorities.

   With the acquisition of Finduck, AP will have further reinforced its leading position in the European accessible luxury goods market with pro-forma 2007 revenues of over €360 million.

   In addition, the acquisition will increase the weight of revenues generated from Leather Goods within Mariella Burani Fahion Group, coherent with MBFG’s strategy to focus on market segments characterised by high growth and profitability.

   Giovanni Stella, CEO of Antichi Pellettieri, states “We are pleased to have acquired Finduck and believe the acquisition provides an excellent opportunity to accelerate the growth of both, AP and Mandarina Duck internationally by entering into market segments, such as travel and work, that are considered complementary as well as strategic”.

   Antichi Pellettieri was advised in the transaction by Barclay’s Bank PLC, the Studio Marchesi Colombo Cipolla Mattavelli & Associati and the legal firm of Legance Studio Legale Associato; Mariella Burani Fashion Group was advised by JP Morgan; the Finduck Group was advised by Dott. Claudio Malgarini and the legal firm Studio Legale Chiomenti.

   FRANCESCO BIASIA SPA

   Antichi Pellettieri acquired the remaining 14% of the equity of Francesco Biasia from Claudio Biasia for €4,5 million ; • 2,25 million to be paid at closing and €2,25 million to be paid by October, 2008. After this transaction closes, Antichi Pellettieri will own 100% of the equity of Francesco Biasia
   S.p.A..

   Contacts

   Carol Brumer Investor Relations e Strategic Development:
   cbrumer@mariellaburani.com
   tel. (+39) 02 76420111

   Daniela Zari Direttore Corporate Communication:
   dzari@mariellaburani.com
   tel. (+39) 02 76015354

   Antichi Pellettieri is a European leader in the accessible segment of the luxury goods market with a consolidated international presence. The Group designs, produces, and distributes handbags and accessories, footwear, and leather apparel collections characterised by top quality and innovative design. A flexible business model provides for control at all critical phases of the production and distribution cycle including, product design and development, production planning, raw material procurement, quality control, marketing, public relations, and distribution. Production and logistics functions are outsourced to an established and qualified base of third party contractors, closely controlled by AP to guarantee quality and efficiency.

   Enquiries:

   Burani Designer Holding N.V.
   Tel: +39 027 642 0111 /+39 348 256 1971
   Carol Brumer (cbrumer@buranidh.com)

   Citigate Dewe Rogerson
   Tel: +44 20 7638 9571
   Kate Delahunty
   Sarah Gestetner

   http://www.buranidh.com

   NOTES TO EDITORS

   The BDH Group offers a complementary range of “Italian lifestyle” products and services to an international customer base. BDH is a player in fashion apparel, leather goods and jewellery through its subsidiary Mariella Burani Fashion Group S.p.A. (MBFG), and in three complementary business segments – beachwear & underwear, wellness spas & skincare and food design. BDH, listed on London’s Alternative Investment Market (AIM) in June 2007, focuses on growth through the acquisition and integration of quality “Italian lifestyle” businesses and the creation of operating divisions able to benefit from scale and synergies of the BDH GroupH. The management believes that the in-depth knowledge of luxury products, the value created by strategic shareholders, the skills of the BDH team management as well as the Group’s investment approach, represent a great opportunity of value creation for shareholders.

   This information is provided by RNS
   The company news service from the London Stock Exchange

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