Companies vie for Pepe Jeans India acquisition
Around 11 businesses are looking into acquiring Pepe Jeans India, a source told ET Bureau. The clothing brand, currently fully owned by its parent company Pepe Jeans Group, counts Reliance Retail and Future Group as businesses looking to acquire a stake, sources said. Other global private equity businesses are also reportedly interested.
“There are multiple players looking to acquire Pepe,” one of the anonymous sources said.
Pepe Jeans Group is being advised by Kotak Group’s investment banking division on the sale, the source said.
The sale has been reported on in the media since March last year when businesses including KKR, Carlyle, General Atlantic and the Malaysian Khazanah fund submitted non-binding offers to acquire the brand. However, there is no confirmation whether any of these businesses are part of the group of 11 currently interested in the business.
Pepe Jeans India is currently owned by the Barcelona-based business Pepe Jeans Group and the business was originally founded by Indian siblings Arun, Nitin and Milan Shah in London, UK, in 1973.
The business’ current majority shareholders are LVMH-owned business L Catterton and the Lebanese business M1Group. Pepe Jeans India has over 200 stores across the country and many are franchise-run.
Copyright © 2022 FashionNetwork.com All rights reserved.