Groupe Philippe Ginestet approaches Weinberg Capital Partners to buy Besson

Groupe Philippe Ginestet (GPG), the company that owns French and Belgian brands Gifi, Tati and Trafic, has started exclusive negotiations to buy Besson Chaussures, one of the footwear brands under Groupe Vivarte, which also owns Caroll, Chevignon, Minelli, Naf Naf, among others. GPG is looking to buy a 49 percent stake in Besson’s capital alongside investment company Weinberg Capital Partners, the two companies informed in a statement.

The acquisition of Besson would add 133 new stores to GPG’s current portfolio of 727 stores in France and Belgium. The company has ambitious expansion plans, looking to hold 1000 stores and employ 10,000 people in the next few years.

”Joining Weinberg Capital Partners to buy Besson will open new expansion opportunities for GPG and strengthen our presence in the suburbs and small towns”, said Philippe Ginestet in a statement.