Calida Holding AG has reached an agreement to acquire another 11.63 percent chunk of Lafuma, the French company that owns the Millet, Eider and Lafuma outdoor brands the Oxbow surf brands.
The Swiss apparel company said it expected to acquire the stake from long-term Lafuma shareholders Comir and Soparcif in mid-April 2016. If consummated, the transactions will increase Calida’s stake in Lafuma to 71.6 percent, or just above the two-thirds threshold needed to give it control of the company's board.
The agreement calls for Calidas to pay €16 each for Lafuma shares. Christian Haas, who had represented Comir and Soparcif on Calida's board, will step down from this position when the sale is completed.
Calida said in its annual report filed in early March that gaining control of Lafuma was a top priority after a tough fiscal 2015 during which it split the surf brand Oxbow into its own division and consolidated management of Lafuma's three outdoor brands under a new executive team in Annency, France.
