Offer launched for Kookai owner
Private equity player launches bid for Groupe Vivarte
Groupe Vivarte, the French fashion retailer which operates the Kookai brand, has received a takeover bid from private equity firm PAI.
Vivarte is recommending the offer. PAI has acquired a 55.4 per cent stake in the business and is offering to buy out the remaining shares at 40 cents (€0.4) each. PAI hopes to complete the takeover by the end of this month.
Vivarte chairman Georges Plassat, said: “Vivarte now has a majority shareholder willing to develop the group and reinforce its position among the major European players.”
[img r]andre.jpg[/img]The retail group was formerly known as Groupe Andre, named for the shoe retail chain which started the business. Vivarte changed its name to 2001 after buying out the remaining stake in upmarket fashion chain Kookai, in which it already had an interest.
[img l]Chaussland.jpg[/img]As well as Kookai, it now operates fashion chains La Halle, Parti Prix, Caroll, Creeks and Liberto. Along with Andre, its footwear chains include La Halle aux Chaussures, Chaussland, Minelli and San Marina.
Vivarte operates around 2,500 outlets across Europe and its 2003 sales were more than €1.9bn.
