BC Partners acquires Ladybird through Pronovias
Pronovias is growing. Funds advised by BC Partners, through their participation in Pronovias Group, have reached an agreement with Olaf van den Brink, the sole owner of Ladybird, to acquire the Dutch bridal company.
The transaction will close in the third quarter of the year, BC Partners said in a press release on Thursday, and will be subject to customary antitrust approvals in Germany. Olaf van den Brick, currently the sole owner of the company, will remain as a minority shareholder.
Ladybird, headquartered in Huizen in the Netherlands, was founded in 1970. In recent years, its growth has been fuelled by the arrival of Ingrid van den Brick as managing director and creative director in 2009. Currently, Ladybird has a strong presence in Northern Europe. Specialised in the design and distribution of bridalwear, the brand is stocked in over 500 retailers in the UK, the Netherlands, Eastern Europe and the Benelux region.
“The Ladybird acquisition will strengthen Pronovias’ European leadership in the bridalwear market and enable a wider customer base to benefit from its commitment to client experience, specialist service and contemporary designs,” said BC Partners in a press release.
Meanwhile, Ladybird will “leverage Pronovias’ unrivalled platform to accelerate its international development,” explained Jean-Baptiste Wautier, partner at BC Partners and chairman of the Pronovias Group.
Pronovias has been controlled by BC Partners since 2017 following a deal that was worth 550 million euros. The fund has been investing in the Spanish retailer’s growth and last year it acquired Nicole Fashion Group, an Italian bridalwear brand to add it to the Pronovias portfolio.
Over the past few years, the Spanish bridal brand has emerged globally as an affordable destination for trend-led wedding dresses. In June it opened the doors of its new flagship store in New York and there are about 12 further US openings planned by 2020. Additionally, it launched in the Chinese market in February with the opening of its first store in the country in Shanghai. Currently, Pronovias has a presence in 105 countries through 4,000 stores.
Copyright © 2021 FashionNetwork.com All rights reserved.