- Angela Gonzalez-Rodriguez |
Gerard and Danielle Gerbi, founders of Gérard Darel, have acquired the brand from their financial partner and now former owner of the company, US fund Advent.
After years of downward business and four months of uncertainty, the ready-to-wear high-end French brand returns to the hands of its founders Gerard and Danielle Gerbi, and their son Laurent.
Seven years after selling the company they founded back in 1971 for 300 million euros, the Gerbi family will buy Gérard Darel with the support of the Commercial Court of Paris for a little bit over 50 million euros.
Gérard Darel returns to its founders
HGD, founder of Groupe Gérard Darel, welcomes this decision, which will save a great deal of jobs within the company and that fully embodies the brand identity and values that have made the company successful in the past.
HGD had to compete with KKR investment funds to take over the company, which filed for bankruptcy in June.
In fact, as many as three different takeover bids were finally presented to the commercial court in late September. Gerbi family’s one was chosen by the court, which especially valued the fact that it will keep approximately 630 jobs.
Gerbi´s offer was slightly under that presented by the KKR fund, owner of Sandro, Maje and Claudie Pierlot brands. KKR was willing to take over 636 employees, and inject 50 million euros into society. A third offer, carried by another investment fund, Chenavari, proposed to keep 583 employees.
The director of the brand, Sandrine Lilienfeld, appointed in 2013, immediately announced that she was leaving office the same day the acquisition was made public.