Desigual 10% stake sold by Eurazeo to founder Thomas Meyer for EUR 142m
03 AUG 2018
Eurazeo [EPA: RF] has announced that it has signed an agreement with Thomas Meyer, the founder and controlling shareholder of Desigual, the Spanish apparel retailer, to sell him its 10% stake in the company.
Since its investment in 2014, Eurazeo has strongly supported the strategic transformation of Desigual through the promotion of a new brand image, its digital channel, the expansion in Latin America, the optimization of the distribution network as well as through a strengthening of the company’s governance. After four years of mutual cooperation, the joint owners have decided that, given the market environment and their respective timeframes and objectives, it is in their and Desigual‘s best interests that Thomas Meyer become the company’s sole shareholder.
This sale will generate net proceeds of EUR 141.9m for Eurazeo and its investment partners, and EUR 105.7m for Eurazeo’s stake representing a return on its initial investment of 0.5x.
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