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France's Gerard Darel attracts four potential buyers

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Reuters
Published
today Sep 9, 2015
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Four potential buyers, including U.S investment fund KKR, have made offers to buy struggling French fashion group Gerard Darel, Le Figaro newspaper said on Wednesday.

Gerard Darel, founded in 1971 in Paris and a favourite among Hollywood stars such as Eva Longoria and Angelina Jolie, was placed into court-appointed receivership in June.

SS15 collection - Gerard Darel


This meant it did not have to pay debt for four months and could try to find a buyer or an investor during that time.

Apart from Chenavari, other bidders include French investment firm Naxicap - a unit of Natixis, U.S investment fund KKR, and HGD LMA - a holding of the Gerbi family, which founded Gerard Darel, Le Figaro said.

Investment fund Advent owns 90 percent of Gerard Darel and the Gerbi family owns the rest.

Advent, Gerard Darel and Chenavari declined comment.

KKR and Naxicap both said they had no immediate comment, while HGD LMA could not be immediately reached for comment.

A source close to the matter told Reuters the Paris commercial court would review any offers received on Sept. 28.
 

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