|By PR Newswire||
|October 2, 2012 03:34 AM EDT||
LONDON, October 2, 2012 /PRNewswire/ --
Marwyn Management Partners plc is pleased to announce that it has entered into exclusive discussions with Lafuma, the Paris-listed group, regarding the acquisition by MMP of Le Chameau SAS ("Le Chameau"). Le Chameau is a French-based producer of high-end rubber boots, footwear and apparel.
MMP confirms that it has entered into an exclusive arrangement with Lafuma regarding the potential acquisition of Le Chameau. The entering into of a binding sale and purchase agreement relating to the acquisition remains subject to the satisfactory conclusion of consultation between Lafuma and its employees, as is standard under French regulations.
The acquisition would be funded by the existing cash resources of the Group.
The board anticipates that a sale and purchase agreement may be concluded within four to six weeks. MMP will update the market as appropriate in due course.
Mark Watts, Executive Director of MMP, said "We are extremely excited about the opportunity to acquire Le Chameau. Le Chameau is a brand with an exceptional heritage and product of the very highest quality. We look forward to progressing the transaction to completion in the coming weeks and then helping to grow the business and develop it as a truly international luxury brand."