A year after taking a majority stake in the Pronovias Group, the private equity firm BC Partners has acquired European bridalwear company Nicole Fashion Group SpA through Pronovias.
The deal was reached with Nicole Fashion Group’s chief executive officer Carlo Cavallo, creative director Alessandra Rinaudo and Luigi Cavallo. Terms of the deal were not known at press time.
The Nicole Fashion Group dates back to 1996 in Saluzzo, a town in northwest Italy. There, Carlo Marco Cavallo and Alessandra Rinaudo started their business. Nicole specializes in luxury and eveningwear that includes such labels as Nicole, Alessandra Rinaudo and Colet. The company has distribution in 40 countries.
With 110 employees and five stores in Italy, the Nicole Fashion Group had sets its sights on Spain about 18 months ago.
In a statement revealing the acquisition, Amandine Ohayon, ceo of the Pronovias Group, said he was convinced that Cavallo’s and Rinaudo’s “contributions to our executive committee and product innovation committee, respectively, will be highly valuable to the Pronovias Group.”
With the addition of Nicole, Pronovias aims to bolster its European dominance and brand portfolio to further unlock growth opportunities across several countries, according to a statement released by Pronovias Monday. The partnership is meant to foster their synergies and reinforce their respective product innovation and marketing. Rinaudo said she is “convinced that our partnership will be an incredible source of inspiration for both Pronovias and Nicole’s collections, while preserving our respective brand identities.”
This is the latest fashion investment led by BC Partners, which has a diverse portfolio that includes the U.K.-based restaurant chain Cote, U.S. cable operator Altice and the Turkish food retailer Migros. Jean-Baptiste Wautier, managing partner at BC Partners and chairman of the Pronovias Group, said, “This transaction is a great illustration of how we try to actively support our portfolio companies in ambitious and transforming buy-and-builds.”