WCP and Groupe Philippe Ginestet enter into exclusive negotiations to acquire Besson Chaussures
Weinberg Capital Partners is pleased to announce that LBO fund WCP#3 has entered into exclusive negotiations with Vivarte Group for the acquisition of Besson Chaussures.
Besson Chaussures, a subsidiary of Vivarte Group since 1998, operates through a network of 133 physical stores and has recently launched an online sales website. Established in the early ‘80s by the Besson brothers, the brand generated total sales of €264 million in 2016/17. The company is based in Aubière (Puy-de-Dôme).
Following the completion of the transaction, WCP would become majority shareholder alongside Groupe Philippe Ginestet, the leading retailer in peripheral areas in France, through its Gifi, Trafic and Tati concepts.
This acquisition would be the first deal for WCP#3 fund.
After a first closing in January 2018 over €140m, the fund will be closed to new subscriptions by the end of June 2018.
Patrick Puy, CEO of Vivarte, “We are glad to enter into negotiations with Weinberg Capital Partners, a company we trust to lead a bold and promising industrial plan, which will allow Besson to seize its full growth potential”».
Philippe Klocanas, Partner at WCP, “We are pleased to enter into exclusive negotiations to achieve this transaction alongside Philippe Ginestet. This would be the first acquisition for WCP#3. By combining our skills, we will offer to Besson a strong support throughout its next phase of development”.
Philippe Ginestet, founding CEO of Gifi and GPG, “Together with Weinberg Capital Partners, we very much look forward to taking over a company with a unique brand offering and a performing concept. We aim at allowing the company to fulfill its ambition”.