EQT VII to acquire Sweden based Eton, a leading global premium men’s shirts brand with presence in more than 1,300 points of sale across 43 countries
EQT VII will continue to develop Eton for further growth, which is planned to be achieved both through increased penetration in existing markets and further internationalisation
EQT VII (“EQT”) has entered into an agreement to acquire Eton Group AB (“Eton” or the “Company”) from Litorina IV and other minority owners.
Founded in 1928, Eton is a leading global premium men’s shirt brand, offering shirts and directly linked accessories. By combining a very strong value proposition to its customers and a superior product, Eton has doubled the volumes of shirts and accessories sold during the last five years to over a million products during LTM September 2015. The Company implements a wholesale-based route-to-market strategy complemented with five own brand stores and its own online store. Eton is today headquartered in Gånghester, Sweden and has 155 employees across the world.
“We are excited to have EQT as our new owner and are happy to be a part of the EQT family. We strongly believe that EQT’s industrial approach, global presence and network will be of valuable support in our next growth phase and future success”, says Eton CEO Hans Davidson.
The transaction is subject to customary approval from competition authorities, and is expected to close in early 2016. The parties have agreed not to disclose the transaction value.
Contacts:
Kerstin Danasten, EQT Press Contact, +46 8 506 55 334
About EQT
EQT is a leading global private equity group with approximately EUR 29 billion in raised capital. EQT has portfolio companies in Europe, Asia and the US with total sales of more than EUR 17 billion and 140,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
For further information, please visit www.eqt.se
About Eton
Eton is a leading global premium men’s shirts brand. Eton was founded in Gånghester, Sweden in 1928 and has since inception focused on high quality materials and dedicated craftsmanship to deliver elegant shirts with superior quality. By offering a proven value proposition to its customers, Eton has spread from Gånghester to some of the world’s most exclusive department stores and retailers in Europe and North America. In addition, Eton operates five own brand stores and an own online store. The company employs 155 people.
For further information, please visit www.etonshirts.com
EQT VII is part of the leading private equity group EQT (being existing EQT funds or any successor funds advised directly or indirectly by EQT Partners or its subsidiaries, collectively “EQT”).
