At what enterprise value was TOD’S acquired in 2024?

During the acquisition of TOD’S by L CATTERTON in 2024, the transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR.

What was the EV/EBITDA of TOD’S when it was acquired by L CATTERTON?

The estimated EV/EBITDA multiple for TOD’S is in the range of 5x - 12x.

When was TOD’S acquired by L CATTERTON?

TOD’S was acquired by L CATTERTON in 2024.

What was the revenue of TOD’S at the time of the deal?

The revenue of TOD’S at the time of the deal is estimated to be in the range of 750M - 1.3b EUR.

What was the EBITDA of TOD’S during the acquisition?

TOD’S's EBITDA is estimated to be in the range of 250M - 500M EUR.

How is the data for the TOD’S 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 TOD’S 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.fashiondive.com/news/tods-group-l-catterton-deal-private-delist/707260/

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Home Database Retail & ConsumerTOD’S

02/2024

TOD’S acquired by L CATTERTON

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

Context

L Catterton, in concert with the founding Della Valle family, has launched a voluntary tender offer to acquire the remaining shares of Tod’s SpA and delist the company from Euronext Milan. This represents the family's second attempt to take the company private in less than two years, following a failed bid in 2022. The strategic rationale for the delisting is to provide the group with "greater management and organizational flexibility" and faster decision-making capabilities. Post-transaction, the Della Valle family will maintain majority control with a 54% stake, while L Catterton will hold 36% and LVMH (via Delphine S.A.S.) will retain its existing 10% stake. This structure reinforces the long-standing "friendly support" between the Arnault and Della Valle families while positioning Tod's for a period of accelerated consolidation and brand repositioning under private ownership.

TOD’S, which reported an EBITDA margin of in 2023, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Retail & Consumer sector (11.0x).

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Target

Tod’s SpA is a premier Italian luxury house renowned for its high-end footwear, apparel, and leather accessories. The group operates several iconic brands, including Tod’s, Roger Vivier, Hogan, and Fay. Its business model is centered on "Made in Italy" craftsmanship, combining traditional artisanal techniques with a global retail and wholesale distribution network. The company maintains a significant international presence, particularly in Europe, Greater China, and the Americas. The brand’s value proposition is built on timeless elegance and quality, supported by a sophisticated industrial structure and a network of directly operated stores that reinforce its luxury positioning.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2023

2022

Similar deals in Luxury Goods

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
06/2024	LVMH	L'EPÉE 1839	SWITZERLAND	Watches & Jewelry
04/2024	QUADRIVIO GROUP	FILIPPO DE LAURENTIIS	ITALY	Fashion & Leather Goods
10/2023	Fiskars Group	Georg Jensen	DENMARK	Watches & Jewelry
07/2023	KERING	VALENTINO	ITALY	Fashion & Leather Goods
05/2023	PERMIRA	GRUPPO FLORENCE	ITALY	Fashion & Leather Goods
11/2022	PENINSULA CAPITAL / PERCASSI	MC2 SAINT BARTH	ITALY	Fashion & Leather Goods
07/2022	AMF GROUP	CHAINES ET CIE	FRANCE	Luxury Supply Chain
06/2022	AMF GROUP	ITALCATENE	ITALY	Luxury Supply Chain
06/2022	G-III APPAREL GROUP	KARL LAGERFELD	FRANCE	Fashion & Leather Goods
03/2021	EXOR	CHRISTIAN LOUBOUTIN	FRANCE	Fashion & Leather Goods

REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 750M - 1.3b EUR

EBITDA range: 250M - 500M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of TOD’S by L CATTERTON 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: tod’s

Acquirer: l catterton