Swiss textile group Calida to increase stake in sport group Lafuma to 87.70%

Swiss textile group Calida announced on Friday that it has added to the stake it already holds in French sport apparel and equipment corporation Lafuma, growing its share of the capital to 87.70%.

Calida said it agreed to buy the 8.54% share, with related voting rights, owned by French company CDC Entreprises Elan PME, a long-standing shareholder in Lafuma.

According to the Swiss group, the deal was struck on June 14, and the transaction is expected to be finalised in the next few days. Calida added that the agreed selling price is €17.99 per share.

The Lafuma group owns the Millet, Eider and Oxbow sport brands, and Calida became its majority shareholder in 2013. The Swiss group already has a presence in France, as the owner of lingerie label Aubade.

Lafuma is based in Annecy, and in 2017 it generated a net income of €5.4 million, as opposed to a €1.2 million loss a year earlier, reaping the rewards of a far-reaching reorganisation.