Tod’s Group strikes new deal with L Catterton, going private

L Catterton, an investment firm in which LVMH has a minority share, announced a friendly takeover bid for Italian fashion group Tod's. The primary purpose is to remove its shares from the Milan Stock Exchange.

The offer, valued at 512 million euros, involves buying up to 36 percent of Tod's shares at 43 euros per share, a 17.59 percent premium over the recent closing price.

The move follows an unsuccessful attempt in 2022 by the Della Valle family, Tod's majority owner, to privatise the company. If successful, L Catterton will indirectly own 36 percent, the majority shareholders will retain 54 percent, and Delphine, a minority shareholder, will have 10 percent, aiming to boost Tod's growth initiatives.

The current offer involves the delisting, which is considered a prerequisite to ensure the pursuit of future growth.

The Tod’s Group also operates Roger Vivier, Hogan and Fay brands.