The Calida Group has acquired American premium lingerie and loungewear brand Cosabella for a total package of 80 million dollars including earn out thus reinvesting the sales proceeds from Millet Mountain Group.
Commenting on the development, Hans-Kristian Hoejsgaard, chairman of the Calida Group board said: “With the acquisition of the strong e-commerce brand Cosabella, we continue focusing the Calida Group on its core segment while simultaneously enhancing its online growth. This transaction is completely in line with the strategy Accelerate 2026 and highly accretive for all stakeholders.”
Calida Group enters the US market with Cosabella acquisition
The company said in a statement that this acquisition further strengthens the group’s position in its core segment of underwear and lingerie and paves the way for its US market entry with the brands Calida and Aubade. The closing of the transaction is expected to take place in Q2 2022.
Cosabella was founded in 1983 by Valeria and Ugo Campello in Miami, USA. A family-owned business with its second-generation management employs approximately 50 people and generated sales in the United States of 29 million dollars and an EBITDA of 4.8 million dollars in 2021.
“Along with my sister, Silvia Campello, and the entire Cosabella team, we are delighted to unleash our growth potential in the US and Europe together with the experts of the Calida Group,” added Guido Campello, managing director of Cosabella.
The company added that Cosabella will serve as the US hub for the successful geographical expansion of the Calida Group, which is in line with the strategy Accelerate 2026.
In the last five years, Cosabella reached an average annual sales growth of 22 percent and an EBITDA margin of 16.1 percent in 2021.
“With our long-standing brand expertise, we will strengthen the awareness of Cosabella as a popular lingerie brand in Europe and at the same time will benefit from Cosabella’s US market knowledge. Additionally, Cosabella provides an ideal hub to launch our brands Calida and Aubade in the US market as an added value to this deal,” said Timo Schmidt-Eisenhart, CEO of the Calida Group.