Brandtex Group acquired by EQT
The family-owned business Brandtex Group A/S (”Brandtex Group”), headquartered in Brande, Denmark, was today acquired by EQT IV Limited (”EQT”).
The Brandtex Group is one of the largest clothing companies in Scandinavia and is recognized for producing quality fashion wear at competitive prices. In 2004, annual sales of the Brandtex Group totaled DKK 3.3 billion, of which 80% was generated by exports to more than 25 countries in Europe, the United States, the Middle East and Asia. The Brandtex Group’s income before tax was approximately DKK 100 million in 2004.
Brandtex Group is a multi-brand group consisting of a number of companies with own brands, profiles, designs and target groups. The product portfolio includes classic and modern/trendsetting fashion clothing for women and men, children’s wear, young fashion apparel and home textile products. The Brandtex Group includes such brands as Blend, b.young, Brandtex, Fransa, 4YOU, Kabooki, Jensen Women, Signature, Södahl Design, Erla, C.RO, Etage, Silbor and Share.
In recent years, Brandtex Group has achieved substantial growth by reinforcing the profile of a number of its brands, introducing new brands and launching its own retail chains.
Jens Iversen, CEO of the Brandtex Group, made the following statement: “The Brandtex Group has been a family-owned business ever since the company was established in 1935. The Brandtex Group is now undergoing a generational handover and our family has come to the conclusion that the Brandtex Group has a higher strategic value to a new owner. It has been our family’s wish to find a buyer who can take the company forward and especially further develop the Brandtex Group’s business. We are convinced that EQT is the right owner for Brandtex Group and our employees”.
Ole Andersen, partner at EQT Partners, comments: “The Brandtex Group fits in well with EQT’s strategy to invest in companies of high quality and with substantial growth and development potential. We are impressed by the healthy growth that Brandtex Group has achieved historically and look forward to working closely with Brandtex Group’s management and dedicated personnel to realize the Brandtex Group’s full potential”.
EQT intends to keep the headquarters of the Brandtex Group in Brande, Denmark.
Group CEO Jens Iversen has requested to leave the Brandtex Group after a short transition period, when a new Group CEO has been appointed.
The sale is conditional upon the approval of the relevant competition authorities.
Danske Markets, Corporate Finance department acted as financial advisor for the seller. Handelsbanken advised EQT and financed the transaction.
Contact at EQT:
Contact at Brandtex Group A/S:
Jens Iversen, CEO,
+45 96 42 42 42