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Carlyle to Pay Investcorp $691 Million for Luxury Italian Label

  • Mideast fund bought luxury brand for 130 million euros in 2015
  • Investcorp’s earlier investments include Gucci and Tiffany

Carlyle Group Inc. agreed to buy Italian motorcycling clothing brand Dainese SpA from Investcorp International for an enterprise value of 630 million euros ($691 million), the latest high-end fashion deal by the Middle East-based fund that’s previously invested in Gucci Ltd and Tiffany & Co.

The price is almost five times the 130 million euros that Investcorp paid for the luxury brand in 2015, but lower than the 750 million euros that Reuters reported it was seeking in December 2021.