Private equity firm The Carlyle Group is to take a 48% stake in Moncler Group, the premium sportswear company.
The Moncler deal, which is subject to regulatory approval, is expected to complete by the end of the year. Moncler chairman Remo Ruffini will continue to run the company.
The Moncler brand has experienced a resurgence over the past three seasons in the UK market. During the last three years, Moncler's turnover has increased from €183 million (£144m) in 2005 to a projected turnover for the end of 2008 of €290m (£229m). Overseas sales account for about 40% of total turnover up from about 30% in 2005.
"Moncler is a historic sport luxury garment brand that has returned to play a relevant and prestigious role in the market," said Marco De Benedetti, managing director of The Carlyle Group. "Starting from today, as shareholders of the company, we will support Moncler with strategic vision and the means necessary to maximize the important global development opportunities for Moncler and the other brands of the Group."
In addition to the Moncler brand, the transaction will include the Henry Cotton, Marina Yachting and Coast, Weber & Ahaus (CWA) brands and the group's licensing deal for Cerruti.