Simpson Thacher is representing funds advised by Kohlberg Kravis Roberts & Co. L.P. in connection with the acquisition of approximately 65% of Groupe SMCP (“SMCP”). SMCP is a leading ready-to-wear affordable luxury apparel retailer, and is currently controlled by L Capital (a private equity firm sponsored by LVMH Group), Florac (a private equity sponsor) and management. Existing management will retain a stake of approximately 35%. Simpson Thacher is also representing the buyer on the related financing of the acquisition.
The transaction is expected to close in 2013 following receipt of regulatory approvals and satisfaction of customary closing conditions.
The Simpson Thacher team includes Alvaro Membrillera, Wim De Vlieger, Sam Taylor, Audrey Hage and Janeen Hayat (M&A); Ian Barratt, Nicholas Shaw, Lucy Jenkins, Till Lefranc and Fiona Swords (Credit); David Vann and Étienne Renaudeau (Antitrust); and Meredith Jones and Sean Fitzgerald (Tax).
