RENÉ LEZARD: EXTRAORDINARY SHAREHOLDERS’ MEETING APPROVES THE CAPITAL INCREASE WITH ENTRY OF CEMSEL TEKSTIL
Munich, 20th December 2018. On December 17, 2018, the extraordinary shareholders’ meeting of RENÉ LEZARD Mode AG approved a capital increase. After the successfully performed increase of capital, Cemsel Tekstil San. ve Tic. A.S. will hold 60% of the shares of RENE LEZARD Mode AG, acting as an anchor investor.
In the course of an international M&A process which started in summer 2018, the premium fashion retailer gained the Turkish textile producer Cemsel as a new majority shareholder.
Whilst key competencies concerning brand, product and sales remain unchanged in the headquarters in Schwarzach, synergies regarding the purchase and supply of goods will be increased and especially the procurement will be adjusted. “We are confident that the newly appointed measures will positively affect the future of RENÉ LEZARD. To achieve this, it is necessary that the existing shareholders waive their subscription rights regarding the capital increase and Cemsel receives 60% of the shares”, says Isabella Hierl, CEO of RENÉ LEZARD Mode AG.
ACXIT Capital Partners advised RENÉ LEZARD Mode AG on the successful search for an investor and the execution of the transaction.
About RENÉ LEZARD
RENÉ LEZARD Mode AG, headquartered in Schwarzach/Bayern, is an exclusive fashion brand for women and men in the premium sector. With mono stores, showrooms, an online-shop and fashion outlets customers from over 20 countries are supplied.
About Cemsel Tekstil
Cemsel Tekstil San. ve Tic. A.Ş. is a leading manufacturer and designer of high-quality clothing for women, men and children. Cemsel was founded in 1988 by Yasar Esgin in Istanbul and possesses a worldwide renowned customer base. The 2016 acquired More & More GmbH from Starnberg/Bayern also belongs to Cemsel.
ACXIT Capital Partners is a leading independent corporate finance and investment advisory firm for mid-market clients and entrepreneurs in Europe and beyond. Since 1998, ACXIT offers its clients comprehensive corporate finance advisory services including M&A and capital markets advisory as well as restructuring, equity/debt and strategic advisory. As an independent, privately owned firm we maintain offices and representations in Frankfurt, Berlin, Munich, Leipzig, Zurich, Hong Kong and New York, as well as strong alliances in France, China and India. (www.acxit.com)
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