12 February 2020 12:35
LONDON (Reuters) - Private equity firm Permira has reached an agreement to buy Italian luxury sneaker brand Golden Goose, a source familiar with the matter told Reuters on Wednesday. The Venice-based shoemaker, which makes sneakers that sell for 400 euros ($437), is owned by private equity fund Carlyle (CG.O). Carlyle in December kicked off the sale process with a view to receiving bids valuing the brand at no less than 1.2 billion euros, sources have said. Permira was vying with rival private equity firm Advent and U.S. SPAC Acamar, one source had said. A spokesman for Permira was not immediately available for a comment.
MILAN — Permira made it to the finish line. The private equity fund has succeeded in buying Golden Goose, WWD has learned. The price was pegged at 1.28 billion euros. As reported last month, market sources told WWD that negotiations over the Italian brand had accelerated and a sale could have been finalized as early as mid-February. Two private equity funds — Permira and Advent — were said to be neck-and-neck in securing the deal to buy the Italian brand from the owner, the Carlyle Europe Buyout fund.