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Van de Velde acquires lingerie brand Andres Sardá
21
Jun '08
Van de Velde and the Sardá family have reached an agreement for Van de Velde to acquire 100% of the Andres Sardá business. The transaction will be structured through the acquisition of the “Andres Sardá” brand and 100% of the shares of Eurocorset S.A., the company operating the Andres Sardá business.

Founded, in 1986, Andres Sardá is a premium lingerie brand known for the sensuality and refinement of its products. It is marketed in Spain, its home market, as well as internationally by Eurocorset, together with sister brands Risk and University, both under the Andres Sardá signature.

“The Sardá brands will have a role as international premium brands in the worldwide brand portfolio of Van de Velde. Van de Velde sees high growth opportunities for the brands in existing and new markets. This acquisition reflects our previously stated intention to strengthen our brand portfolio, especially in the premium segment and primarily with a southern European brand”, says Ignace Van Doorselaere, CEO of Van de Velde.

As part of the agreement, the core members of the Sardá family will remain involved and will play an important role in the future development of the brand.

Barcelona will become the national sales headquarters of both the Eurocorset and the Van de Velde products in Spain.

In 2007 Eurocorset generated turnover of 13 million euros and a recurrent operating profit (Ebitda) of approximately 1 million euro.

The results from Eurocorset will be fully consolidated in Van de Velde's group results.

Van de Velde, advised by investment banking boutique Ohana & Co. and assisted in legal matters by Lovells LLP, will pay 3.6 mio EUR in cash for 100% of the shares of Eurocorset and 11 mio EUR for the brand Andres Sardá. Van de Velde will finance the transaction out of available cash resources.

Presentation of Eurocorset S.A.
Eurocorset was founded in 1961 in order to market the brands developed by the Sarda family. The company realises one third of its turnover with swimsuits and the remaining turnover with lingerie.

Van de Velde is a European premium player in the field of fashionable luxury lingerie. Van de Velde is committed to a long-term strategy of brand building and retail development around the concept of 'lingerie styling' (fit, style, fashion) worldwide.

Van de Velde


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