British-Italian clothing brand Pepe Jeans has allegedly been purchase by a Lebanese group, called M1. Mere details separate the new owner from its 900 million euro purchase.
Official within a few days
The sale dragged on for nearly 6 months and M1 has now managed to bring the deal to a close, although Pai Partners (which owns Hunkemöller) was also vying a deal. Sources say the official announcement will be done in a few days' time.
Pepe Jeans, founded in London in 1973, is currently on sale in some 60 countries and managed a 500 million euro turnover in its last fiscal year. It is expected to generate an 80 million euro EBITDA profit for its current fiscal year.