German GARDEUR Group is changing ownership

German GARDEUR Group is changing ownership

On September 24, 2013 GARDEUR CEO Gerhard Kränzle has signed on behalf of Kränzle Beteiligungs GmbH, and in presence of representatives of an investment fund of NRW.BANK a memorandum of understanding on the short notice acquisition of all shares of GARDEUR Group (trouser specialist, around 3 milllion pieces annually and 2000 employees) from its former shareholders CAPCELLENCE, Hamburg (D)

The three parties agreed to transfer the shares immediately after clearance from the anti- trust board. Kränzle Beteiligungs GmbH will take over a 51 % company stake in the Mönchengladbach (D) based trouser specialist GARDEUR as major shareholder. NRW.BANK investment fund will acquire 49 %. In addition to the purchase price, who is not disclosed publically, the buyers provide the company with equity capital of EUR eight million. Through this transaction the trouser specialist is to continue the strategic re-orientation initiated by Gerhard Kränzle in 2011, including product development verticalisation and in-house production to be further optimised. The existing banking consortium will continue at GARDEUR’s side to secure outside funding.

GARDEUR-GmbH_Gerhard Kr+ñnzle_CEOGerhard Kränzle commented: “Since I joined in December 2010, together with my team we have charted the course of sustainable growth through the re-orientation of our strategy and brand management. This is evidenced by the outstanding economic results posted over the past months. During this period CAPCELLENCE, Hamburg (acquired in 2008 GARDEUR from the founding families Janssen and Roesner) was an important and trusted partner. Our employees have entered into this process of change with heart and soul and by investing a great deal of energy, and I look forward to expand our charted growth strategy on long term, also as a majority shareholder, now with my new partner NRW.BANK Investment fund.”

The two Co-Managing Directors of GARDEUR GmbH. Frank Schulte-Kellinghaus and Marcus Kraft will each hold a seven percent share in Kränzle Beteiligungs AG.

Today the trouser specialist develops its collections on the basis of a market-research driven framework plan and by managing retail areas in-depth. These vendor managed retail spaces posted some 12 % sales growth in 2012 and 11 % over the first six months of 2013. Since 2011 the company has also invested several million EUR in quality focused products and manufacturing processes, as well as in training schemes at its own production site in Tunisia. Combined with the optimised supply chain, the company is now in a position of designing, manufacturing and delivering a pair of trousers in just four weeks.

www.atelier-gardeur.de


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