Sun European Partners has divested its stake in DBApparel to HanesBrands for 400 million euros. Based in France, DBA is a maker of branded intimate apparel.
PARIS, FRANCE. Sun European Partners, LLP (“Sun European Partners”) today announces that one of its affiliates has completed the sale of its investment in DBApparel (“DBA”), to HanesBrands Inc. (“HBI”) for an enterprise value of €400m.
Headquartered in France, DBA is a market leader in the design, manufacture and distribution of branded intimate apparel, including world-renowned brands such as DIM, Playtex, Wonderbra and Shock Absorber.
HBI is a leading manufacturer and marketer of basic apparel, with some of the world’s strongest brands, including Hanes and Champion, but also Playtex and Wonderbra in complementary geographies to DBA.
Following its acquisition by an affiliate of Sun European Partners in 2006, DBA implemented a number of operational improvements which have delivered increased market share, greater brand awareness and overall improved financial performance. These measures, combined with the support provided by Sun European Partners, have transformed DBA into a very resilient business.
Lionel de Posson, Vice President at Sun European Partners, said: “DBA is a perfect illustration of Sun European Partners’ know-how and expertise. First, it shows our capacity to identify the companies with a potential for recovery and secondly, our ability to implement the measures which will make it successful and sustainable. With the combination of DBA and HBI resulting in a true global presence, I am confident that this operation will ensure DBA’s continued development. This very successful deal reinforces our determination to develop our present and future investments in France”.
This transaction is the seventh exit completed by affiliates of Sun European Partners this year, after completing eight exits and two IPOs in 2013.Get your FREE trial or subscribe now to Buyouts to find new deal opportunities, super-charge your fundraising efforts and track top managers.