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Jones, a US clothing production and retailer, announced that the company has acquired the largest luxury footwear retailer in Europe, UK-based Kurt Geiger, from private equity firm Graphite Capital, mainly to expand its presence in the international luxury goods market. The status.
The Jones Group stated that, including debt commitment, the transaction is valued at approximately $350 million in cash. The company also said that the acquisition of Kurt Geiger will increase its international sales to approximately 20% of its total sales. For the fiscal year ending April 30, Kurt Geiger’s revenue was $332 million.
Jones Group said that the transaction will be able to immediately increase its earnings per share. Last month, the luxury goods group Labelux has acquired Jimmy Choo, a premium shoe manufacturer, from TowerBrook Capital Partners.
The Jones Group stated that, including debt commitment, the transaction is valued at approximately $350 million in cash. The company also said that the acquisition of Kurt Geiger will increase its international sales to approximately 20% of its total sales. For the fiscal year ending April 30, Kurt Geiger’s revenue was $332 million.
Jones Group said that the transaction will be able to immediately increase its earnings per share. Last month, the luxury goods group Labelux has acquired Jimmy Choo, a premium shoe manufacturer, from TowerBrook Capital Partners.
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