The Eveden Group, the parent company behind lingerie brands Freya, Fantasie, Fauve, Huit, Goddess and Elomi, has been acquired by Japan-based Wacoal Holdings Corporation.
The deal, thought to be valued at around $242m (£151m) including all of Eveden’s debt, will see the Eveden Group become a subsidiary of Wacoal, which already owns lingerie brands including b.tempt’d, Asian Collection and CW-X.
“Our acquisition of Eveden, a company which has established a leading presence in the key markets of Europe, North America and Australia significantly accelerates our corporate strategy for overseas expansion,” said Richard Murray president of Wacoal America. “We look forward to working with the Eveden team and developing our businesses together.”
Tracy Lewis chief executive of the Eveden Group said: “We are excited to be joining the Wacoal Group, with whom we share a very similar business ethos, culture and values.
“Being part of one of the leading businesses in the lingerie sector presents us with both a huge opportunity to develop the reach of our brands globally and our teams with great benefits for business and personal development. “
For more on Wacoal’s plans for the Eveden Group see next week’s issue of Drapers.