PPR : PPR : announces that Redcats has entered into an agreement with Nordic
Capital Fund VII for the sale of Ellos and Jotex
Paris, 25 February, 2013
PPR announces that Redcats has entered into an agreement with Nordic
CapitalFund VII for the sale of Ellos and Jotex
PPR announces that Redcats has entered into an agreement to sell its Nordic
brands Ellos and Jotex to Nordic Capital Fund VII for an enterprise value of
Ellos is the leading home shopping player in Scandinavia for apparel and Jotex
has established itself as a key player in the Scandinavian home textile and
decoration market. Recent years have brought a very positive development and a
greater focus on customer needs and expectations. The brands have strengthened
the attractiveness of their e-commerce websites and developed their own-brand
designs and products to offer a unique collection supplemented with a range of
selected external brands. The transaction will place Ellos and Jotex in an
excellent position to take advantage of their potential to continue their
Nordic Capital Private Equity Funds invest in large and medium sized
companies, primarily in the Nordic region. The company has a long track record
of successful investments and has solid experience in Nordic retail. It
encourages businesses to grow by expansion into new markets, product
development, new industrial combinations, strategic repositioning and
The sale of Ellos and Jotex will mark a further step forward in the
transformation of PPR into a global leader in apparel and accessories within
the Luxury and Sport & Lifestyle sectors.
Subject to approval of the relevant competition authorities, the transaction
should be finalised in the coming months, after informing the employee
Rothschild acted as financial adviser and Vinge acted as legal advisor to PPR
in the transaction.
PPR empowers an ensemble of powerful, complementary Luxury and Sport &
Lifestyle brands, specialising in apparel and accessories, to reach their
potential. Present in more than 120 countries, the Group generated revenues of
€9.7 billion in 2012 and had over 33,000 employees at year end. The PPR share
is listed on Euronext Paris (FR 0000121485, PRTP.PA, PPFP).
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