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02/2017

GOLDEN GOOSE acquired by THE CARLYLE GROUP

ITALY Consumer Products / Fashion & Apparel REV 50M - 100M EUR

Context

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.

It is worth noting that the fund Apheon took control of Golden Goose through an LBO in 2015.

GOLDEN GOOSE, which reported an EBITDA margin of in 2015, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Retail & Consumer sector (10.9x).

-> Deep-dive in Retail & Consumer market trends

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)

Year
Rev
EBITDA
EBIT
2015
2014

Other operations with GOLDEN GOOSE

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
12/2025HSG (FORMERLY SEQUOIA CAPITAL CHINA)GOLDEN GOOSEITALYFashion & Apparel
12/2020PERMIRAGOLDEN GOOSEITALYFashion & Apparel
05/2015APHEON (EX ERGON)GOLDEN GOOSEITALYFashion & Apparel

REFERENCES

Revenue range: 50M - 100M EUR

EBITDA range: 5M - 25M 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 THE CARLYLE GROUP are reserved for mynth community members. Register for free to unlock full data.

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: the carlyle group