Spain’s Cortefiel Group is up for sale

By

Elena Campos Valladares

Published
September 29, 2015

The current owners of Spain’s second largest fashion retailer, CVC, PAI Partners and Permira, has hired Goldman Sachs to manage the sale of the Cortefiel Group, said the Spanish newspaper Expansion this Tuesday.

According to analysts, the group comprised of four brands is currently worth some 1.3 billion euros (around 1.4 billion dollars). CVC, PAI and Permire acquired Cortefiel in 2005 for 1.44 billion euros (1.6 billion dollars).   

Springfield, Cortefiel, Women’s Secret and Pedro del Hierro are the brands held by the Spanish group, which is present in 83 countries with 2,056 points of sale. The Cortefiel Group, which also owns the Fifty Factory outlet chain, ended the 2014 financial year with 1 billion euros (around 1.12 billion dollars) in sales.