Translated by
Nazia BIBI KEENOO
Printed
February 26, 2025
The Spanish trend conglomerate Tendam has a brand new majority proprietor. 9 months after canceling its plans for an IPO in Spain, the funding car of the Abu Dhabi royal household, Multiply Group, has acquired a 67% stake within the firm from personal fairness companies CVC Capital Companions and PAI Companions. The deal values the corporate at over €1 billion, in accordance with studies from the enterprise every day Expansión.
Multiply Group acquires a 67% stake in Tendam, strengthening its presence within the world trend market. – Tendam
The acquisition follows unsuccessful makes an attempt to take Tendam public, because the market situations failed to satisfy the expectations of CVC and PAI Companions. Each companies had been a part of Tendam’s possession since 2006, following a fancy bidding conflict that additionally concerned personal fairness agency Permira. In 2017, CVC and PAI Companions acquired Permira’s 33% stake, changing into the only real homeowners.
In accordance with the identical supply, along with IPO makes an attempt, CVC and PAI Companions had additionally explored different choices for the corporate, together with promoting it to traders with an industrial profile or to the division retailer group El Corte Inglés.
Previously often known as Grupo Cortefiel, Tendam’s portfolio consists of Girls’secret, Springfield, Cortefiel, Pedro del Hierro, Hoss Intropia, Slowlove, Excessive Spirits, Sprint and Stars, OOTO, Milano, Fifty, and Hello&Bye. The group operates greater than 1,760 factors of sale throughout 80 international locations, together with standalone shops, division retailer corners, and franchises. It additionally maintains a web based presence by over 33 web sites.
Primarily based on its newest monetary information, Tendam recorded a 4.6% enhance in gross sales within the first quarter of its fiscal yr 2024, which ended on Could 31. In the course of the interval, it reached a turnover of €253.8 million.
