Orchestra–Premaman acquires American Destination Maternity

French Orchestra-Premaman has offered to acquire American Destination Maternity. As one company, they will become one of the largest global groups focused on clothing for pregnant women and small children.

More than 1 billion euro in turnover

Orchestra-Premaman will pay about 100 million euro in shares to acquire Destination Maternity. Every share will be worth 0.515 shares in Orchestra and the American group’s shareholders will obtain 28 % of the merger company’s shares.

The deal should be finalized by mid-2017 and result in a company with a 1.1 billion euro turnover and about 1,800 stores in more than forty countries. Within the first three years, the merger should result in fourteen to twenty million euro in synergy benefits. The negotiations took more than a year to complete: the French company already owned 13.3 % of the American company’s shares and had been trying to acquire the rest for some time.