Gerry Weber acquires Hallhuber

German fashion brand Gerry Weber has agreed to acquire Munich-based fashion company Hallhuber from private equity firm Change Capital Partners.

Gerry Weber said the acquisition will enable it to target a younger market of trend oriented women in their mid-twenties and over, as it looks to accelerate growth.

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Following the acquisition, Hallhuber’s two brands – Hallhuber and Hallhuber Donna – will be managed as stand-alone brands within the Gerry Weber Group. In addition, the Hallhuber management team will continue to manage the business.

Gerry Weber will support Hallhuber in the areas of sourcing and logistics and will also help to expand the number of German and international stores.

Currently employing 1,500 people, Hallhuber operates 94 own retail stores, twelve outlets as well as 113 concession spaces in six countries, although around  82% of sales are generated in Germany.

Hallhuber generated sales of €109.2 million in the 2013 financial year with adjusted EBITDA of €9.5 million. In the 2014 financial year, the brand expects sales to increase to around €140 million while adjusted EBITDA is expected to rise to €14 million.