Greenwich private equity firm L Catterton has signed a definitive agreement to acquire 51 percent of Ganni, a Danish midmarket fashion brand. Terms of the transaction were not disclosed.
Based in Copenhagen, Ganni is expected to generate about $45 million in sales this year and forecasts revenues to grow by 50 percent in 2018.
“This comes exactly at the right time for Ganni and will drive us forward in the next few years,” Ganni CEO Nicolai Reffstrup said. “Ganni attracted a lot of interest from various investment firms, but we chose L Catterton as we felt we share the same vision for the brand.”
Ganni has established an international presence through its own stores and more than 400 premium retailers in 20 countries including the U.S., the U.K., and Germany.