LOS ANGELES — BCBG Max Azria Group, firming its expansion plans for Europe, said Friday it had completed the acquisition of French sportswear company Alain Manoukian S.A. for more than $70.8 million.
As reported, privately held BCBG, based in Vernon, Calif., had offered to pay 31 euros a share, or about $36 at current exchange, for about 1.9 million shares, representing a majority stake in Alain Manoukian. BCBG said it will later purchase the remaining shares of Manoukian on the same terms.
BCBG also said last month that it was in negotiations to buy Don Algodón, a Spanish retailer that sells women’s and men’s ready-to-wear and accessories. BCBG declined to give an update on that deal.
BCBG operates more than 170 stores worldwide. It opened a 5,600-square-foot flagship on Rodeo Drive in Beverly Hills in early July and bowed four new in-store shops at Harvey Nichols in London in early August.