Maus Freres acquires 100 percent of Lacoste

The Swiss family-run group Maus Freres has announced

the acquisition of the 100 percent capital of French label Lacoste. They held the 35 percent of the company up to the date and have just acquired the other 65 percent in a deal in a deal which was valued at 1 billion euros.

Maus Freres is a Switzerland based holding company was founded in 1902 by wholesalers Ernest and Henri Maus and retailer Leon Nordmann . Despite the holding owns department stores and home-improvement chains in Switzerland, already had 35 percent of Lacoste capital through its subsidiary Devanlay.

The sale of the remaining shares in the clothing maker comes amid divisions among family shareholders, several of whom agreed to sell a 30 percent stake to Maus Freres last month.

The remainder of the family decided not to exercise a right of first refusal over those shares and have since agreed to sell their own holdings in Lacoste to the Swiss company. However, both companies jointly announced on Thursday that the whole family has finally agreed to sell.

"All Lacoste family shareholders have decided to sell the totality of their shares to Maus Freres," advanced the Swiss group. The deal was valued at 1 billion euros and came after Lacoste family conflict over management. The deal basically aims to ensure the longevity of the Lacoste brand.