The Turin-based BasicNet group, which owns the manufacturers Okay-Way, Superga, Sebago, Briko, Robe di Kappa and Kappa, strengthens its worldwide positioning within the outside sector with the acquisition of the historic American model Woolrich, based in 1830 in Pennsylvania. In element, BasicNet, via its subsidiary, acquired the rights to the model on the European market from the Luxembourg fund L-Gam and 100% of Woolrich Europe – which offers with distribution and retail and had a turnover of 90 million euros in 2024 – for an enterprise worth of 90 million euros.
The operation gives for a part of the sum to be paid in BasicNet bizarre shares for 12 million euros (equal to 1.2 million shares price 10 euros every). The switch of the shares paid to the counterparty as a part of the preliminary consideration shall be restricted for a interval of 24 months from the date of execution of the acquisition; the promoting occasion might obtain any variable deferred compensation upon reaching sure ranges of outcomes and turnover on the finish of the three-year interval 2026-2028.
«Woolrich is a rare model, with a historical past and an id that make it distinctive within the worldwide outerwear panorama. It represents precisely that cultural and genuine heritage that we want to protect, improve and relaunch. It is an operation completely per our long-term imaginative and prescient, based mostly on dynamic and accountable administration of the manufacturers. – stated the CEOs of BasicNet Lorenzo and Alessandro Boglione -. The acquisition is available in a posh financial context, however we’re satisfied that the solidity of our mannequin and the expertise of our group will enable us to deliver the model again to development.”
The acquisition and refinancing operation of existing debt will be structured, despite the presence of liquid assets, through the use of medium-long term credit lines and a revolving line for a total of a maximum of 90 million euros. The new financing will be made available by Unicredit, as the Group’s strategic partner and sole lender of the operation. The acquisition will close by the end of 2025.
«This operation marks a brand new section in Woolrich’s historical past, geared toward strengthening the model’s id and growing its worldwide presence, enhancing nearly 200 years of historical past and reinterpreting the enduring and distinctive parts of the model in a recent key», Lorenzo Flamini, Woolrich CEO.
https://www.ilsole24ore.com/art/basicnet-k-way-rileva-woolrich-l-gam-90-milioni-euro-AHQFLqhD