GOLDEN GOOSE acquired by PERMIRA
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.
In the past, the company had already been the subject of several LBOs, notably led by Apheon in 2015 and The Carlyle Group in 2017. These multiple LBO cycles illustrate the strong appeal for this type of asset.
GOLDEN GOOSE, which reported an EBITDA margin of in 2019, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Retail & Consumer sector (11.2x).
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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.
Ent. Value
Equity Value
Multiples
EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (EUR)
Other operations with GOLDEN GOOSE
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 12/2025 | HSG (FORMERLY SEQUOIA CAPITAL CHINA) | GOLDEN GOOSE | ITALY | Fashion & Apparel |
| 02/2017 | THE CARLYLE GROUP | GOLDEN GOOSE | ITALY | Fashion & Apparel |
| 05/2015 | APHEON (EX ERGON) | GOLDEN GOOSE | ITALY | Fashion & Apparel |
REFERENCES
Valuation range: EV 1b - 4b EUR
Revenue range: 250M - 500M EUR
EBITDA range: 50M - 100M EUR
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: golden goose
Acquirer: permira