M&A Deal Summary

PAI Partners Acquires Hunkemöller

On January 1, 2011, private equity firm PAI Partners acquired apparel/textiles company Hunkemöller from Maxeda B.V. for 265M EUR

Acquisition Highlights
  • This is PAI Partners’ 3rd transaction in the Apparel/Textiles sector.
  • This is PAI Partners’ 26th largest (disclosed) transaction.
  • This is PAI Partners’ 2nd transaction in the Netherlands.
Investment Fate
  • Hunkemöller was sold to a consortium of financial buyers in 2015.
  • Hunkemöller was sold to a consortium of financial buyers in 2022.

M&A Deal Summary

Date 2011-01-01
Target Hunkemöller
Sector Apparel/Textiles
Buyer(s) PAI Partners
Sellers(s) Maxeda B.V.
Deal Type Divestiture
Deal Value 265M EUR

Target

Hunkemöller

Hilversum, Netherlands
website
Hunkemöller is an operator of lingerie specialists in Europe with stores in the Benelux countries, as well as Germany. Hunkemöller designs, sources and distributes lingerie through its store network. Hunkemöller was founded in 1886 and is based in Hilversum, Netherlands.

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Buyer(S) 1

Buyer

PAI Partners

Paris, France

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1998
PE ASSETS 16.2B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

PAI Partners is a European private equity firm that makes controlling equity investments in buyout transactions valued in excess of €300 million. PAI is particularly interested in 'investing in consolidating sectors and in markets where growth can be sustained through economic and financial market cycles.' Sectors of interest include consumer retail, professional distribution, building materials, infrastructure and utilities, media, IT, communications, food, consumer goods, healthcare, chemicals, automotive, aeronautics, paper & packaging, electrical appliances, and household equipment (heating, air-conditioning, security). The firms invest in the range of €100 - €300 million transaction. PAI was formed in 1998 and is based in Paris with additional offices in Madrid, Milan, Munich, Luxembourg, Copenhagen, and London.


DEAL STATS #
Overall 32 of 90
Sector (Apparel/Textiles) 3 of 4
Type (Divestiture) 3 of 7
Country (Netherlands) 2 of 5
Year (2011) 1 of 5
Size (of disclosed) 26 of 31
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-01 Michel Thierry SA

Laroque D'olmes, France

Michel Thierry SA is a manufacturer of automotive fabrics, leathers, and covers. The company’s products include warps and wefts, velvets, knits, tricots, and plaits.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-02-01 The Nuance Group AG

Glattbrugg, Switzerland

The Nuance Group is a leading player in the global travel retail and duty-free industry with over 90% of sales coming from the airport retail channel.

Buy -

Seller(S) 1

SELLER

Maxeda B.V.

Amsterdam, Netherlands

website


Category Company
Founded 1887
Sector Retail
DESCRIPTION

Maxeda is a non-food retailer in the Benelux area with leading positions in the department store, DIY, apparel and consumer electronics sectors.


DEAL STATS #
Overall 1 of 3
Sector (Apparel/Textiles) 1 of 1
Type (Divestiture) 1 of 1
Country (Netherlands) 1 of 3
Year (2011) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-04 HEMA BV

Amsterdam, Netherlands

HEMA is an international retailer with a network of over 600 stores in the Netherlands, Belgium, Germany, Luxembourg and France, as well as a captive website. The company is the leading general merchandise retailer in the Netherlands, where it has operated for over 80 years. Customer-friendly and with a unique profile, HEMA offers its customers an extensive range of general merchandise across 14 product categories, including apparel, home, personal care and food products, all under the HEMA brand.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-08 V&D B.V.

Amsterdam, Netherlands

V&D is a department store chain in the Netherlands with 62 branches. V&D has a particularly strong presence in the Dutch market with more than 1.7 million visitors per week.

Sell -