Home / Knowledge / News / Fashion / Gruppo Coin signs contract for Melablu acquisition
Gruppo Coin signs contract for Melablu acquisition
12
Nov '08
Gruppo Coin S.p.a., leading apparel retailer in the Italian market with brands OVS industry and Coin, has signed the preliminary contract for the acquisition of Melablu.

The closing of the operation, subject to the consent of the Antitrust Authority, is expected to occur before the end of the year.

The details of the operation are described here in the press release published on October 24, 2008:

Gruppo Coin S.p.A.: Reached an agreement for the acquisition of 60 Melablu stores in Italy. Gruppo Coin S.p.a., leading apparel retailer in the Italian market with brands OVS industry and Coin, has reached an agreement to purchase 100% of the share capital of Tre.bi S.p.A., holding company of the store network under the Melablu brand.

Melablu, has approximately € 100 mln turnover in 2007 and is present in Italy with 60 directly operated stores with an average dimension of 1000 sqm. Its products are positioned in the low price range and target young people.

The acquisition's objective is to:
• Enlarge the current OVSindustry network with additional and complementary quality
locations;
• Consolidate Gruppo Coin's presence in the Italian fast fashion segment;
• Maximize the Group's operating leverage.

The purchase price will be based on an Enterprise value equal to 25.5 € mln. The Enterprise value multiple is equal to 5.7x pro forma EBITDA and 0.25x net sales. The transaction is subject to certain condition precedents. The two parties expect to finalize the contract soon.

“UBS Investment Bank” and “Grimaldi e Associati” have acted as advisors for Gruppo Coin S.p.a., while “Abaxbank” and legal advisor Maurilio Raimondi have assisted vendors.

Gruppo Coin S.p.a.


Must ReadView All

Indian textile & apparel exports fall 13% in Jan 2018

Textiles | On 17th Feb 2018

Indian textile & apparel exports fall 13% in Jan 2018

A decline of 13 per cent year-on-year has been observed in the...

Brazilian cotton prices move up in first fortnight

Textiles | On 17th Feb 2018

Brazilian cotton prices move up in first fortnight

Cotton prices rose in Brazil in the first fortnight of February, as...

Courtesy: OrganoClick

Textiles | On 17th Feb 2018

OrganoClick introduces OrganoTex for water repellency

OrganoClick has introduced OrganoTex, a textile impregnation product...

Interviews View All

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Top executives
Textile industry

Overall, Union budget 2018-19 is very balanced

Urmil Arya

Sushila International, a well established textile organisation established ...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.3%
No
12.9%
Skip
16.8%

Total Votes: 101

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.4%
No
29.7%
Skip
6.9%

Total Votes: 101

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.1%
No
8.9%
Skip
3.0%

Total Votes: 101

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.2%
No
7.9%
Skip
8.9%

Total Votes: 101


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search