By  on October 4, 2011

BERLIN — Mustang is no longer a family business.

Frankfurt-based investor group ACapital, previously the German leg of the European Groupe Alpha, has acquired a majority interest in the German jeans company from Künzelsau. The size of the stake, and the amount paid, could not be learned.

The news comes only a few months after Heiner Sefranek, a member of the founding family, reassumed leadership of the company following the departure of the previous chief executive officer, Theo Birkemeyer, in June.

“There was a lot of expansion under the previous management,” explained Sefranek. “We’ve opened 80 stores in the last two years.”

The brand is now undergoing restructuring, focusing specifically on the its wholesale business and product portfolio. “With ACapital, we are able to strengthen capital resources…and turn Mustang into an even more important brand than it is today,” he said.

ACapital’s partner Thomas Schlytter-Henrichsen added that “Mustang is the third-oldest jeans brand in the world. It used to be very progressive. After all, it was founded by a woman. We are planning to strengthen the brand’s progressive element again.”

Referring to industry speculation that Mustang aims to close a fifth of its own retail stores, Schlytter-Henrichsen added that “every store needs to make a profit. There is still a lot of work ahead of us.”

It is understood that Sefranek will stay on at the company. Mustang would have celebrated its 80th year as a family business in 2012.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus