G&A Counsel for FCDE within the framework of its investment in De Fursac

Published on 2012-07-04 at 01:35:00 PM
G&A avocat du FCDE dans le cadre de son investissement dans De Fursac

Gramond & Partners conducted the legal, social, and tax due diligence with regards to FCDE’s participation in De Fursac’s capital.

The FCDE announced an investment of €11 million in the De Fursac group’s capital. Together with OSEO and LCL for the amount of €5 million, this aforementioned minority investment enables the group to finance its network expansion strategy in France and internationally.

A benchmark in men’s ready-to-wear, the De Fursac brand personifies French elegance. The company offers a premium collection and provides a full range men’s clothing from suits to “upper casual.” De Fursac’s DNA is based on style and high quality, the product of 40 years’ expertise and partnerships forged with leading Italian clothiers.

With a network of 24 outlets, De Fursac is a growing, profitable group with sales of €23 million, an increase of more than 20% compared to 2010.

Edmond Cohen, Chairman of De Fursac, said: “FCDE’s participation in De Fursac will provide the means to mark its deployment throughout the territory and in exports. We are very pleased to have among our shareholders a partner such as FCDE with whom we share values and ethics.”

Benoît Sellam, Chairman of FCDE’s board of directors, stated: “Led by a high quality management team, in just a few years, De Fursac has imposed a strong, modern brand. Our investment will allow this benchmark brand to express its full potential.”

About FCDE: FCDE finances recovery and growth in high-potential SMEs. With approximately €200 million, it is funded by FSI alongside major banks and insurance companies. FCDE is managed by the Consolidation et Développement Gestion, a minority subsidiary of CDC Entreprises.

About De Fursac: Based in Paris, De Fursac is a leader in men’s high-end ready-to-wear, notably in suits. Founded in 1973 and acquired by Edmond Cohen in 1990, the group achieved €22.6 million in turnover in 2011, an increase of over 20% compared to 2010. The group employs approximately 105 people and has a network of 24 outlets in France.

Operation participants:

  • De Fursac (Edmond Cohen, Barbara Curto)
  • FCDE (Benoît Sellam, Nathalie Guillet-Gérard, Jean Joly)
  • FCDE legal counsel: Orrick Rambaud Martel (Saam Golshani, Antoine Brocas, Cyrine Abdelmoula)
  • De Fursac legal counsel: Ayache, Salama & Associés (Bernard Ayache, Grégoire Zeitoun)
  • Financial due diligence: PWC (Erwan Colder, Armel Dupoy)
  • Strategic due diligence: Roland Berger (Delphine Mathez, Georges de Thieulloy)
  • Legal due diligence: Gramond & Partners (Xavier Gramond, Marianne Grignard Gardner, Mélanie Labossais Gramond)