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

Trump announces tariffs on $200 bn worth Chinese imports

Apparel/Garments | On 18th Sep 2018

Trump announces tariffs on $200 bn worth Chinese imports

US President Donald Trump escalated the trade war with China on...

Courtesy: Sunrise Bumi Textiles

Textiles | On 18th Sep 2018

Sunrise Bumi developing new products for profitability

Sunrise Bumi Textiles, one of the world's leading quality yarn...

New Zealand bans sheep mulesing

Textiles | On 18th Sep 2018

New Zealand bans sheep mulesing

New Zealand has banned the practice of mulseing sheep, making the...

Interviews View All

Anshul Sood, Oceedee

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Nitin Soni, Dolphin Jingwei Machines

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Karan Toshniwal, Orange O Tec

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports & Exports Co is a manufacturer and...

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Prof Seokheun (Sean) Choi, Binghamton University, State University of New York (SUNY)

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

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

Leave your Comments


September 2018

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

news category


Related Categories:

Advanced Search