Following a binding offer from Jean-Pierre Millet and Inspiring Sport Capital in December regarding the acquisition of the Millet Mountain Group, the French Calida Group has received final approval from the French Works Council and signed a definitive binding agreement to sell its outdoor division. The transaction is expected to close in the second quarter of 2022.
Jean-Pierre Millet is an investor and grandson of the founder of the eponymous brand. Inspiring Sport Capital is a London and Paris-based private equity firm specializing in sports investments. The sale of its outdoor segment is a major milestone in delivering on Calida’s “Accelerate 2026” strategy. The proceeds of the sale of the Millet Mountain Group, about which no details were given, will thus most likely be used for acquisitions in the underwear and lingerie segments. Last week, Calida had already acquired a German underwear brand, Erlich Textil.
More details in our sister publication, The Outdoor Industry Compass.