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Swiss Calida Group to sell Millet Mountain Group
09 Feb 22 1 min read
Calida Group, a globally active apparel group with its head office in Switzerland, has received the final approval from the French works council to sign the binding agreement for the sale of its Millet Mountain Group. Calida intends to use the proceeds from the sale of Millet Mountain Group, primarily for acquisitions in the underwear and lingerie segment.
Millet Mountain Group is a French pioneer in mountain sports equipment.
Jean-Pierre Millet, an investor and grandson of the Millet founder, in partnership with Inspiring Sport Capital, which is a private equity firm specialising in sports investments, is taking over the Millet Mountain Group to return it to the founding family.
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“The announced sale of the Millet Mountain Group is an important milestone in delivering on the ACCELERATE 2026 strategy,” Calida Group said in a press release.
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The transaction is expected to be completed in the second quarter of 2022.
Fibre2Fashion News Desk (SF)
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