EU Commission clears acquisition of Sneakers Maker by Permira

The European Commission has approved, under the EU Merger Regulation, the acquisition of Sneakers Maker S.p.A. of Italy by Permira Holdings Limited (“Permira”) of The Channel Islands.

Sneakers Maker owns Golden Goose S.p.A., a manufacturer and supplier of luxury footwear and apparel. Permira is a private equity firm controlling a number of portfolio companies active in a variety of sectors, including footwear and apparel with brands like Dr Martens and Reformation.

The Commission concluded that the proposed acquisition would raise no competition concerns given the very limited horizontal overlaps and vertical relationships between the companies’ activities. The transaction was examined under the simplified merger review procedure.