LDC took a minority stake investment in Eveden Group in 2006 to implement a strategic growth plan. The growth plan focussed on the roll out of its market leading ‘Freya’ and ‘Fantasie’ brands across key international markets, the expansion of its product line to include swim and shape wear and the continual enhancement of its value added customer proposition where ‘one size does not fit all’.
In 2011 turnover increased to £81.9million, an 18% uplift on 2010, with a pre-tax profit of £8.4million, a rise of 47% on the previous year. Employee numbers also rose considerably during the investment period, with the business employing more than 660 people (2012), a 34% increase from 2006.
LDC sold the business in 2012; in a £148million transaction with Tokyo Stock Exchange listed Wacoal Holdings Corporation. The exit transaction provided an excellent return for LDC, delivering a circa 3.8x money multiple on the original investment.
We have enjoyed a close working relationship with LDC for over six years and they have been a supportive and engaging partner. Their strategic input and challenge has been invaluable and Eveden now has a strong foundation upon which to progress further.Chief Executive, Eveden