GOLDEN GOOSE acquired by THE CARLYLE GROUP
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).
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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 |
| 12/2020 | PERMIRA | GOLDEN GOOSE | ITALY | Fashion & Apparel |
| 05/2015 | APHEON (EX ERGON) | GOLDEN GOOSE | ITALY | Fashion & Apparel |
REFERENCES
Revenue range: 50M - 100M EUR
EBITDA range: 5M - 25M 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: the carlyle group