Comprehensive M&A data with integrated detailed company information
Alpargatas ‘piques interest of potential buyers’
Posted on Monday, 19 June 2017 13:37
Brazilian footwear maker Alpargatas is attracting attention from possible acquirors, according to Reuters.
Citing two people with knowledge of the situation, the news provider said Cambuhy Investimentos, GP Investments and Grupo Boticario are among those considering an approach for the business, with the former in talks to purchase an 86.0 per cent stake.
According to the sources, who did not wish to be identified as the matter is private, controlling shareholders in Alpargatas have already been working on a divestment.
None of the parties involved have commented on the report at this time.
Sao Paulo Stock Exchange-listed Alpargatas operates four factories in its home country, with an additional eight in Argentina, and exports to over 100 countries worldwide.
The company’s brands include Havaianas, Mizuno and Osklen, which are sold in its 600-plus stores globally.
It posted net revenue of BRL 807.50 million (USD 244.20 million) in the first quarter of 2017, down from BRL 993.80 million in the opening three months of the preceding year.
Gross profit for the period totalled BRL 351.20 million, compared to the BRL 479.20 million recorded in Q1 2016.
The most valuable deal targeting a footwear manufacturer to have been announced during 2017 to date was worth USD 488.27 million and involved the sale of stock in ANTA Sports Products by multiple shareholders, according to Zephyr, the M&A database published by Bureau van Dijk.
Other companies in the sector to have been targeted include US-based leather shoe and boot maker ABG-Frye, in which Authentic Brands Group agreed to pick up a 51.0 per cent shareholding from Jimlar for USD 100.00 million in March.
Italy-headquartered Tod’s, Chinese player Greentouch (Xiamen) and US firm Greats Brand also feature in the year’s largest deals in the industry so far.
© Zephus Ltd