Buyout Investments

Canat / Empreinte

Activity

Canat produces and markets lingerie sleepwear articles to large department stores and multi-brand retail outlets and also for export.
In addition Empreinte uses these distribution channels to market shapewear articles and swimsuits produced in its Brest factory. Empreinte specialises in large size clothing.

Context

Headquartered in Millau (Aveyron), Canat was founded in 1922. After starting off as a glove manufacturer, Canat began working in the sleepwear lingerie sector in the 1960’s.
Having been the subject of an LBO in 1993 it was then acquired by its current CEO in association with the Natwest financial group in October 1996.
Empreinte, founded in 1946, saw two generations of family CEO’s in 50 years. In 1990, the company was floated on the Nantes OTC market. In a move to organise his own succession, Mr Nicoll, the chairman and CEO, sold the company to a group with a strategy similar to that of Empreinte.
The merger with Canat took place in March 1998.

Strategy

AXA Private Equity Fund contributed to the merger between Canat and Empreinte and became a shareholder in the newly created entity.
Management strategy has been to rapidly build up a European-scale group by merging with other companies in the sector particularly in France, Spain and the UK.
The upcoming acquisition of a French shapewear company oriented towards supermarket outlets should round off the group’s product offerings and increase profitability.

Divestment

In December 2003, AXA Private Equity sold the shares it held in Saaly, the holding company of Canat/Empreinte group, to the IPO fund.