Advent Said to Prepare Sale of French Retailer Gerard DarelRuth David and Kiel Porter
Private-equity firm Advent International is preparing a sale of French fashion retailer Gerard Darel, according to two people with knowledge of the matter.
Gerard Darel may be valued at about 150 million euros ($161 million) in the sale, which may start as soon as next month, the people said, asking not to be identified as the details aren’t public. No final decision has been made and Advent is in talks with advisers about how to proceed, they said.
Advent, which bought Gerard Darel in July 2008, is among several private-equity firms seeking to sell stakes acquired before the global financial crisis as buyers return to Europe, lured by an economic recovery and a fall in the value of the euro that makes companies in the region cheaper.
A spokesman for Advent declined to comment. Representatives for Gerard Darel didn’t respond to requests for comment.
The maker of the “24 Heures” range of bags and the Archibald trench coat, which sells for 350 euros, was set up in 1971 and is based in Paris. Robin Wright, who stars in Netflix Inc.’s political thriller “House of Cards”, is among celebrities who have modeled for the brand.