Delhaize Becomes Majority Shareholder in Monnier Frères

The Belgian retailer paid 3.5 million euros for its stake and will invest the same amount in the accessories e-tailer’s expansion.

BUYING IN: French accessories e-commerce site Monnier Frères has a new majority shareholder: Belgian multichannel retail group Louis Delhaize.

Delhaize has invested 3.5 million euros, or $4.5 million at current exchange, to take a controlling stake in the firm and will inject a further 3.5 million euros to fuel its expansion, especially in the U.S. and Asia, Monnier Frères stated.

The Belgian company bought the stake from startup investment firm Jaina Capital.

Monnier Frères is present in more than 25 countries and offers high-end accessories from some 60 brands, including Chloé, Marc Jacobs, Valentino, Alexander Wang, Tory Burch and Phillip Lim.