A private equity fund sponsored by French luxury brand LVMH Group has snapped up just under half of Australia’s RM Williams in a deal aimed at helping the bushwear firm expand further overseas.
The sale of the 49.9% holding was valued at around A$52m (£35.4m), said a source close to the deal who was not authorised to speak on the record.
Singapore-based L Capital Asia, which is also backed by Groupe Arnault, the holding company of LVMH chairman and chief executive Bernard Arnault, and Malaysia’s YTL Corp, specialises in developing distinctive but affordable brands in the Asia-Pacific region.
Last year, it took a 50% stake in upmarket Australian food store Jones the Grocer — via redwolf.newsvine.com
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