PARIS — Kohlberg Kravis Roberts & Co., the new majority owner of the Sandro, Maje and Claudie Pierlot fashion chains, plans to accelerate their international expansion, particularly in the U.S. and Asia.
The American private equity giant said it signed a definitive agreement to acquire 65 percent of SMCP Group from L Capital, the private equity arm of LVMH Moët Hennessy Louis Vuitton, and Florac.
Financial terms were not disclosed. Market sources pegged the deal’s value at about 650 million euros, or $853.4 million at current exchange.
Evelyne Chétrite and her sister Judith Milgrom, along with Elie Kouby and Frédéric Biousse, will retain about 35 percent of the company.