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Arafa acquires 35% stake in Italian fashion firm Forall Confezioni

Dec '08
Al Arafa for Investment and Consultancies S.A.E. ("ARAFA HOLDING") is pleased to announce that it has signed a definitive agreement for the acquisition of a 35% stake in Forall Confezioni S.p.A. ("FORALL GROUP") for a total consideration of Euro 25.3 million.

The acquisition will take place in the form of a capital increase that will be fully subscribed to by ARAFA HOLDING and that values FORALL GROUP at a pre money equity value of Euro 47 million (post money value of Euro 72.3 million).With cash and bank facilities in excess, ARAFA HOLDING has seized the right moment to close such a favorable deal.

Established in 1970 in Vicenza, Italy, FORALL GROUP is the owner of several prestigious brands as "PAL ZILERI" and "LAB. by Pal Zileri" among the others. Considered one of the top menswear brands all over the world, PAL ZILERI owes its brand awareness to the high quality of its products, fully styled and manufactured in Italy. PAL ZILERI has also a high standing distribution, developed through high-end locations in several countries including both consolidated markets like Italy, France, Spain, Switzerland, Germany, United Kingdom, Russia, the United States, Japan and emerging ones like China, India, Saudi Arabia and Qatar among others.

In its audited financial statements for the year ended December 2007, FORALL GROUP reported total revenues of Euro 136 million with an EBITDA of Euro 10.4 million.

Arafa Holding is a multinational organisation offering the highest quality apparel that exceeds the expectations of its customers - the owners of the world's leading brands.

Arafa Holding

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