BERLIN — After two recently collapsed takeover agreements, the German fashion brand Strenesse appears to have found a new investor.
In an official announcement today, the Nordlingen-based company said “a Swiss trust company” has signed an agreement to acquire Strenesse. Neither the name of the company nor financial details of the deal were released, though it was noted that the takeover must first be approved by the antitrust authorities.
Strenesse has been has been operating under self-administration since filing for bankruptcy in April 2014.
Last September, the Dutch Holding MAEG pulled out of its purchase contract for the firm, which had been signed in August. A second potential buyer, a Polish industrial family which had also been in the running while negotiations with MAEG were underway, also subsequently signed a purchase agreement. But the acquisition fell through when the full purchase price was not paid.
Strenesse said that its new owners have pulled together an experienced apparel industry team, including Jürgen Gessler, former chief executive officer of Porsche Design, who will assume the ceo position at Strenesse effective Jan. 1. He also holds a stake in the company.
Stated goals of the new management are the “support of its domestic wholesale partners as well as international expansion.”