M&A Deal Summary

Compagnie Financiere Richemont Acquires Peter Millar

On September 24, 2012, Compagnie Financiere Richemont acquired apparel/textiles company Peter Millar from Winona Capital Management

Acquisition Highlights
  • This is Compagnie Financiere Richemont’s 2nd transaction in the Apparel/Textiles sector.
  • This is Compagnie Financiere Richemont’s 1st transaction in the United States.
  • This is Compagnie Financiere Richemont’s 1st transaction in North Carolina.

M&A Deal Summary

Date 2012-09-24
Target Peter Millar
Sector Apparel/Textiles
Buyer(s) Compagnie Financiere Richemont
Sellers(s) Winona Capital Management
Deal Type Add-on Acquisition
Advisor(s) Baird (Financial)

Target

Peter Millar

Durham, North Carolina, United States
Peter Millar is a leading manufacturer and marketer of premium lifestyle apparel. Peter Millar markets classically designed sweaters, shirts, and outerwear to high-end golf clubs and select specialty retail stores both in the United States and internationally.

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Buyer(S) 1

Buyer

Compagnie Financiere Richemont

Bellevue, Switzerland

Category Company
Founded 1979
Sector Consumer Products
Employees37,117
Revenue 20.6B EUR (2024)
DESCRIPTION

Compagnie Financiere Richemont owns a portfolio of international brands or ‘Maisons’, which are managed independently of one another, recognizing their individuality and uniqueness. Compagnie Financiere Richemont was founded in 1979 and is based in Bellevue, Switzerland.


DEAL STATS #
Overall 3 of 5
Sector (Apparel/Textiles) 2 of 2
Type (Add-on Acquisition) 3 of 5
State (North Carolina) 1 of 1
Country (United States) 1 of 1
Year (2012) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-02 The Net-A-Porter Group

London, United Kingdom

The Net-A-Porter Group Ltd. is a online retailer of luxury fashion and accessories for men and women. The Company was formed in 1999 and is based in London.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-02 Varin-Etampage and Varinor SA

Delémont, Switzerland

Varin-Etampage and Varinor SA is a high-end manufacturer of stamped exterior components for watches, gold refiner and producer of semi-finished precious metal products destined for the watch and jewellery industry.

Buy -

Seller(S) 1

SELLER

Winona Capital Management

Chicago, Illinois, United States

Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2006
PE ASSETS 125M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Winona Capital Management is a private investment firm that makes direct investments in consumer related middle-market companies. Winona targets growth companies generating sales of $10 to $100 million and EBITDA of at least $1 million. The Firm can commit up to $15 million per transaction. Specific areas of interest include niche consumer goods and services; sports, recreation and leisure; specialty manufacturing and distribution; growth-oriented, multi-unit specialty food and retail; and education services. Winona's investment horizon is five years. Winona Capital Management is based in Chicago, Illinois.


DEAL STATS #
Overall 3 of 9
Sector (Apparel/Textiles) 1 of 2
Type (Add-on Acquisition) 2 of 6
State (North Carolina) 1 of 1
Country (United States) 3 of 7
Year (2012) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-01 Dragon Alliance

Carlsbad, California, United States

Dragon Alliance is a branded designer, marketer and manufacturer of goggles, sunglasses, soft goods, and accessories for the global action sports market. Dragon enjoys a premium brand and international reach, particularly in the snow sports category. The Company's diverse product mix, customer base, substantial brand equity, and world class professional team positions the company as one of the leading action sports companies in the world.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-09 LK International AG

Hünenberg, Switzerland

LK International AG (KJUS) stands for sportswear made of innovative, high-performance material with a distinctive, clean design. The award-winning collections Ski, Golf and Lifestyle are developed by passionate sports experts and tested by professional athletes. The products are designed to enable sportspeople to focus on the experience. Driven by an enthusiasm for sports and an uncompromising vision, KJUS continues to push farther, innovating with every seam, fabric, and detail.

Buy -