mynth
06/2011

MONCLER acquired by EURAZEO

ITALY Luxury Goods / Fashion & Leather Goods EV 1b - 4b EUR

Context

Eurazeo acquired a 45% stake in Moncler from various shareholders, valuing the company at EUR1.2 billion. The equity investment by Eurazeo amounted to EUR418 million based on a total equity value of EUR930 million. Eurazeo joined founder and the private equity firm Carlyle in the capital. The objective of the investment was to support the "Global Down Jacket" strategy, professionalize the governance, and prepare the group for an international IPO (which eventually occurred in 2013).

MONCLER, which reported an EBITDA margin of in 2010, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Retail & Consumer sector (11.9x).

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Target

Founded in 1952 and revitalized by Remo Ruffini in 2003, Moncler is a premium luxury brand world-renowned for its high-end down jackets. In 2011, the company was transitioning from a niche outerwear manufacturer to a global luxury lifestyle brand, expanding its product lines and international retail footprint.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2010
2009

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REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 250M - 500M EUR

EBITDA range: 100M - 200M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of MONCLER by EURAZEO 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: moncler

Acquirer: eurazeo