Rapha denies bid approaches; LVMH private equity unit mulling bid
Rapha, a UK-based cycling clothes retailer, has denied being contacted about any potential takeover bids, The Daily Mail reported. Rapha’s denial was reported in an article that said LVMH’s [EPA:MC] private equity unit is believed to be thinking about making an offer for the privately-owned company.
The report did not cite a source for the speculation regarding LVMH’s interest in Rapha.
A Mail on Sunday report on 27 November cited an unidentified source who confirmed that LVMH, a French luxury retailer, was in talks with Rapha about a potential takeover.
Simon Mottram founded Rapha in 2004, the item said. The report did not give any details of Rapha’s ownership structure.
Rapha posted a profit of GBP 1.1m (EUR 1.30m) on GBP 48.8m turnover in the FY to 31 January, the item noted.