At what enterprise value was GOLDEN GOOSE acquired in 2020?

During the acquisition of GOLDEN GOOSE by PERMIRA in 2020, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Retail & Consumer industry currently tracks an average EBITDA multiple of 11.3x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of GOLDEN GOOSE when it was acquired by PERMIRA?

The estimated EV/EBITDA multiple for GOLDEN GOOSE is in the range of 10x - 18x. For comparison, the Retail & Consumer sector currently shows an average EBITDA multiple of 11.3x. Join our community for free to access full valuation data and industry trends.

When was GOLDEN GOOSE acquired by PERMIRA?

GOLDEN GOOSE was acquired by PERMIRA in 2020.

What was the revenue of GOLDEN GOOSE at the time of the deal?

The revenue of GOLDEN GOOSE at the time of the deal is estimated to be in the range of 250M - 500M EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of GOLDEN GOOSE during the acquisition?

GOLDEN GOOSE's EBITDA is estimated to be in the range of 50M - 100M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the GOLDEN GOOSE acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the GOLDEN GOOSE deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.modaes.com/global/companies/golden-goose-to-change-hands-private-equity-fund-permira-to-acquire-italian-brand

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Home Database Retail & ConsumerGOLDEN GOOSE

12/2020

GOLDEN GOOSE acquired by PERMIRA

ITALY Consumer Products / Fashion & Apparel EV 1b - 4b EUR

Context

Permira agreed to acquire a majority stake in Golden Goose from The Carlyle Group, prevailing over rival bidder Advent International after a year-long negotiation process. This transaction represents a classic "Secondary Buyout," where a new private equity owner takes the baton to drive the next phase of growth. Under Carlyle's ownership (since 2017), Golden Goose had already doubled its revenue. Permira's strategic plan focuses on accelerating the brand's global expansion, particularly in the US and Asian markets, and shifting the business model further towards Direct-to-Consumer channels (both physical retail and e-commerce) to capture higher margins and control the brand experience.

As a reminder, the company has already undergone several LBOs, notably with Ergon Capital Partners in 2015 and The Carlyle Group in 2017. These multiple LBO cycles illustrate the strong interest in this type of asset.

GOLDEN GOOSE, which reported an EBITDA margin of LOGIN in 2019, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Retail & Consumer sector (11.3x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Golden Goose is an italian luxury shoes brand, famous for its "superstar" model with the iconic star and deliberately worn-out look, the brand bridges the gap between streetwear and high fashion. Its products are distributed through a strong wholesale network and flagship stores.

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List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
12/2025	HSG (FORMERLY SEQUOIA CAPITAL CHINA)	GOLDEN GOOSE	ITALY	Consumer Products	HSG acquired a majority controlling stake in Golden Goose from Permira in a transaction valuing the company at approximately EUR2.5 billion. This deal serves as a strategic alternative to the IPO that was withdrawn in 2024. The industrial logic is clear: bringing in HSG and Temasek provides Golden Goose with unparalleled access to the Chinese and Asian markets, which are critical for the brand's next phase of growth. Permira retains a minority stake to benefit from this future upside.
02/2017	THE CARLYLE GROUP	GOLDEN GOOSE	ITALY	Consumer Products	Carlyle acquired a 100% controlling stake in Golden Goose from Ergon Capital Partners and minority investors. The EV represents a massive exit for Ergon, which had purchased the company less than 2 years prior (May 2015) for an enterprise value of EUR100m. The rapid valuation increase was driven by the explosive growth of the sneaker market. Carlyle beat out a long list of bidders, including BC Partners, Permira and the Qatari fund Mayhoola.
05/2015	ERGON CAPITAL PARTNERS	GOLDEN GOOSE	ITALY	Consumer Products	Ergon Capital Partners III has acquired a majority stake in Golden Goose srl from Dgpa sgr, Riello Investimenti, and founders. Golden Goose is a fast-growing Italian luxury brand, renowned for its high-end casual apparel and iconic sneakers. The transaction follows months of speculation and marks a significant milestone for the brand's expansion.

REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 250M - 500M EUR

EBITDA range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of GOLDEN GOOSE by PERMIRA are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Target: golden goose

Acquirer: permira