BCBG Max Azria purchase of Manoukian a fact

The American fashion group BCBG Max Azria has agreed to aquire French label Alain Moukian in a move that will catapult the group into a billion dollar company by the end of 2006, according to FWD.

Following the terms of the deal, the acquisition will take place in two steps. First, Max Azria will purchase all the Manoukian family shares in Alain Manoukian SA, which is listed on the French stock market. The family’s shares represent approximately 63 per cent of the capital and voting rights of the company.

In the second phase, Max Azria will purchase all shares owned by other shareholders of Alain Manoukian SA, which accounts for 26.22 per cent of the capital and voting rights of the company. The acquisition values the shares at € 31 (£ 21,40) per share, up slightly from its recent stock market price of € 29,50. The acquisition still awaits approval from the Autorité des Marchés Financiers, the French stock exchange authoritative body, but this should not be a problem.

Alain Manoukian operates more than 300 stores throughout Europe. It is the new owners’ hope that the combined strengths of BCBG Max Azria’s research, development and design capabilities and Manoukian’s existing logistical operation in France will allow the group to further break through the European market.

The Alain Manoukian group achieved a turnover of € 134.4 million in fiscal 2004 with an increase in profit of € 100,000, up from a loss of € 13 million in 2003. BCBG Max Azria is a prominent producer and retailer of ready-to-wear. It has 8 different brands, including BCBG Max Azria, the BCBG Maz Azria Collection, BCBGirls and To the Max. The group has more than 5,200 points of sale worldwide.

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