MILAN — Italian investment company Excalibur I and German industrial group Steilmann Holding AG have teamed up to acquire a majority stake in German fashion retail giant Adler Modemarkte AG, which is listed on the Frankfurt Stock Exchange. Excalibur I, which is controlled by private equity Equinox and textile group G.&C. Holding, and Steilmann Holding will acquire 49.96 percent of Adler through financial vehicle corporation Bidco, featuring Steilmann Holding as its main shareholder. The transaction was inked between Bidco and private equity BluO,which bought the company in 2009 from Metro. Bidco will pay Adler, which operates 169 stores in Europe, 5,75 euros, or $7.44 at current exchange rates, per share and then will launch avoluntary tender offer for the remaining shares. According to a statement, the acquisition will allow Adler to increase its product quality and to expand in new markets, such as the Far East. Steilmann Holding, which aims to generate with Adler annual revenues of more than 1 billion euros, or $1.3 billion, will also re-brand a number of Adler points of sale as Boecker stores. Boecker is a fashion retail company controlled by Steilmann. In 2012, Adler generated 505 million euros, or $666.6 million, in revenues compared to the previous year. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 14 percent to 35 million euros, or $46.2 million.
“I like everything she does,” said @lilkimthequeenbee about @parishilton at Hilton’s launch party for her collab with @boohoo. “She understands women and the certain body types. I think her clothes are so cute. It’s hot. She’s funny, but sexy at the same time, just like me.” #wwdeye (📸 @chelsealaurenla ) #parishilton #boohoo #lilkim
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To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty