MILAN — Moncler SpA said Friday it has sold Industries Sportswear Co. SpA to Cavaliere Brands (Italia) Srl, a company advised by Emerisque Brands UK Ltd.

This story first appeared in the November 11, 2013 issue of WWD. Subscribe Today.

The sportswear division includes brands Marina Yachting, Henry Cotton’s, Coast Weber & Ahaus and the 18CRR81 Cerruti license.

Immediately prior to the completion of the transaction, a special purpose vehicle owned by Moncler shareholders Ruffini Partecipazioni Srl, ECIP M SA (a company controlled by Eurazeo), CEP III Participations Sarl SICAR (a company controlled by the Carlyle Group) and Goodjohn Srl, subscribed to a capital increase in Cavaliere Brands and acquired a 30 percent stake.

As of Dec. 31, revenues of the sportswear division totaled 135 million euros, or $172 million at average exchange.

Moncler was assisted in the transaction by Bank of America Merrill Lynch as financial adviser and Latham & Watkins as legal advisor.

In October, Moncler SpA filed documents to list on the Italian Stock Exchange, and the initial public offering is expected to take place by the end of the year. Only the Moncler brand is going public and a number of sources had been speculating that the group might spin off its sportswear division, perceiving it as nonstrategic.

In April, Emerisque bought the MCS We The People brand, formerly known as Marlboro Classics, controlled by MCS Italia SpA from private equity group Permira. At the time, Emerisque said it was potentially interested in further acquisitions in Italy.

Founded in 2004, other Emerisque investments include Hickey Freeman, Lee Cooper, Hart Schaffner Marx, Bobby Jones, Jack Nicklaus, Exclusively Misook, Christopher Blue, Palm Beach, Sansabelt and Monarchy.

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