New York - Zadig & Voltaire counts on a new investor: private equity firm Peninsula, which has just made an ‘strategic growth investment” in the French luxury ready-to-wear brand.
“We are delighted to welcome Peninsula as our new partner. Their long-term investment horizon and retail expertise are fully aligned with Zadig & Voltaire’s entrepreneurial values and history. Our company continues to benefit from an exceptional development potential, particularly online, and in the US and Asia. We look forward to working with Peninsula to continue the strong growth of Zadig & Voltaire worldwide. I also want to thank TA Associates. With our shared values, this proved to be a successful partnership that helped the company double in size, enter the US market and professionalise the management team,” commented Thierry Gillier, chairman of Zadig & Voltaire.
Stefano Marsaglia, co-founder and managing partner at Peninsula explained in a press release that his company has “closely followed the development of Zadig & Voltaire for a long time, and we are delighted to partner with Thierry Gillier, Cecilia Bonstrom, Remy Baume and the entire management team. Thierry’s vision has driven Zadig & Voltaire from its creation to becoming one of the leading French modern luxury brands, and we share his ambitions. We look forward to contributing to the future success of Zadig & Voltaire, and to leverage our retail expertise and global network to help the company achieve its full potential. This transaction marks the entry of Peninsula in France, and we are glad to make this investment in a company with such a unique brand with tremendous growth opportunities worldwide.”
Minority investor TA Associates to leave Zadig & Voltaire
Zadig & Voltaire will remain majority-owned by Gillier, while TA Associates, the current minority partner, will be exiting its investment, according to a joint announcement released on January, 20. Financial terms of the transaction were not disclosed.
Patrick Sader, Managing Director at TA Associates highlighted their contribution to Zadig & Voltaire’s international development. “Our partnership with Thierry Gillier perfectly illustrates TA Associates' minority investment philosophy. We thank Thierry for his exceptional leadership and commitment, and Artistic Director Cecilia Bonstrom for her unwavering dedication to creativity and quality. We believe that Zadig & Voltaire is a timeless brand with tremendous appeal that is uniquely positioned to benefit from further growth. We wish them continued success.”
Following the transaction, founder and controlling shareholder Thierry Gillier will remain chairman of the company with the support of a new CEO, Remy Baume, who is also joining as a shareholder.
Rothschild, KPMG and PWC served as financial advisers, Jeausserand Audouard, White & Case and Latham & Watkins served as legal counsel, and Letus Private Office served as advisers to Zadig & Voltaire shareholders. Deloitte served as financial advisor, and Linklaters and Van Campen Liem served as legal counsel to Peninsula.
Founded in 1995, Zadig & Voltaire has grown consistently to reach its current commercial network of over 400 stores across 30 markets, generating retail sales in excess of 350 million euros (according to last released figures.)
Image: Cruise 20 collection, Zadig & Voltaire official website.