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Apr, 25 2018

Pepe India Gets Acquisition Offer from PE Firms

Founded in 1973 in London, Pepe Jeans Group operates through two main brands, Pepe Jeans and Hackett.

The Indian arm of Spanish fashion brand Pepe Jeans has received a controlling stake acquisition offer from US-based private equity firms Advent International, Carlyle Group and General Atlantic, reported a financial daily, citing two people familiar of the development.

Pepe Jeans is seeking a valuation of Rs 2,000 crore for its India unit, the report said.

Earlier, Pepe Jeans had held talks with US buyout firm KKR & Co. and home-grown private equity firm Everstone Capital Advisors said the second person in the report.

The Netherlands-based Pepe Jeans Europe BV is the holding company of Pepe Jeans India.

Kotak Investment Banking was given the mandate by Pepe Jeans to give advice on the sale process, according to the report.

Pepe Jeans India’s net sales stood at Rs 427.6 crore and profit after tax at Rs 49.2 crore for the financial year ended March 2017.

Founded in 1973 in London, Pepe Jeans Group operates through two main brands, Pepe Jeans, and Hackett.

In 2015, L Catterton Asia and Lebanese investment firm M1 Group acquired a majority stake in Pepe Jeans Group.

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