M&A Deal Summary

Adastria Acquires Velvet

On April 3, 2017, Adastria acquired retailer Velvet

Acquisition Highlights
  • This is Adastria’s 1st transaction in the Retail sector.
  • This is Adastria’s 1st transaction in the United States.
  • This is Adastria’s 1st transaction in California.

M&A Deal Summary
Date 2017-04-03
Target Velvet
Sector Retail
Buyer(s) Adastria
Deal Type Add-on Acquisition

Target

Velvet

Culver City, California, United States
Velvet LLC is an own and operator of 8 retail stores in the US and 1 store in U.K. The collection is distributed to premium department stores and high-end specialty stores both in the US and abroad. Velvet has collaborated in the past with super model Lily Aldridge and will be collaborating this summer with super model Kirsty Hume. Velvet LLC is formed in 1973 and is based in Culver City, California.

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Buyer(S) 1

Buyer

Adastria

Tokyo, Japan
Category Company
Founded 1953
Sector Retail
Employees6,603
Revenue 275.6B JPY (2024)
DESCRIPTION

Adastria owns and operates of 1,358 retail stores in Japan and 108 stores overseas. Adastria owns 21 brands including apparel, lifestyle and restaurant businesses. Adastria was founded in 1953 and is based in Tokyo, Japan.

DEAL STATS #
Overall 1 of 2
Sector (Retail) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (California) 1 of 2
Country (United States) 1 of 2
Year (2017) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-06 Velvet

Culver City, California, United States

Velvet designs, manufactures and sells upscale women's and men's apparel. Velvet's portfolio covers a wide range from contemporary to designer price points and includes t-shirts, tops, pants, shorts, skirts, dresses and other categories. Products are primarily sold domestically through wholesale (department and specialty stores), online and retail channels and internationally through distributors.

Buy $37M
Mergr

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