the press release

Press release
Siparex supports the shareholding transition and the growth of
le Temps des Cerises family group
September 22, 2014
The Dogg Label group - owner of both Le Temps des Cerises and Japan Rags brands - has
opened up its shareholding base to Siparex. The private equity house, by taking a minority
stake, has structured an operation to make capital transfer possible between Gil and Lylian
Richardière, group CEO and co-founder (who becomes the majority shareholder), operation
in which the company's key executives have taken part as investors.
Le Temps des Cerises, trademark created in 1998 in Marseilles by Gil Richardière and his son
Lylian, and its version for men named Japan Rags, have built their reputation on denim around
which they have developed their ready-to-wear and accessories fashion style. The vintageinspired collections stand out for the quality of clothing and for continuous innovation in
shapes and materials while maintaining a competitive price positioning.
The steadily increasing Group’s turnover (€70M in 2013) is achieved through different
channels: an own network of about fifty retail outlets to date – including an online shop and
about ten affiliates – and a clientele of over 1,000 retailers and retail websites located in
France and abroad (through its European subsidiaries and partners in China and the Middle
East).
The Siparex Group has invested a total amount of €12M via its Siparex Midmarket III fund
dedicated to the financing of mid-sized companies, as part of an operation of about forty
million Euros. Besides the transfer of Gil Richardière’s securities, the closed operation includes
a funding component intended to foster the active development of the Dogg Label group, with
new store openings planned in France, the strengthening of online sales, and the international
sales development.
Benoît Metais and Romain Boisson de Chazournes from Siparex, say: ‘The Dogg Label group
stands out in the ready-to-wear world for its positioning based on quality, using a universal and
timeless product : denim, and for great proximity with its clients. We are very pleased to have
the opportunity to support a well-prepared family business transition, in going into partnership
with highly motivated manager and team.’
Lylian Richardière says: ‘Siparex stood out for its ability to listen and for the structuring of a
balanced transaction, especially in giving access to the capital to the management team while
strengthening resources to support our ambitious development plan.’
About Siparex
Siparex Group, founded 36 years ago, is France’s independent private equity specialist in the midmarket segment. Assets under management total more than €1 billion spread among three lines of
business: “MidMarket” (SMEs/mid-sized companies), “Regional Growth Capital” (regional SMEs), and
“Innovation” (fast-growing technological SME’s). Siparex covers all of France operating from Paris,
Lyon, Lille, Nantes, Strasbourg, Besançon and Limoges, with also offices in Madrid and Milan.
www.siparex.com
1
****
Investors:
The RICHARDIERE family and managers: Lylian Richardière, Peggy Bienvenu
M&A advisor: AELIOS, Thibaut de Monclin, Hadrien Mollard
Legal advisor: ASA AVOCATS, David Sitri (seller), MICHEL LAVAL & ASSOCIES, Michel Laval, PierreAlain Guillermin (managers)
Company – Legal advisor: MICHEL LAVAL & ASSOCIES, Michel Laval, Pierre-Alain Guillermin
Debt - Investors: CIC LYONNAISE DE BANQUE, Alexandre Depagneux, Céline Grégoire, ARKEA
BANQUE ENTREPRISES ET INSTITUTIONNELS, Laurent Imbert, Régis Ponsonnaille, BANQUE PALATINE,
Thierry Jay, SOCIETE MARSEILLAISE DE CREDIT, Didier Lailhacar, BNP PARIBAS, Gilles Méalin, Yacine
Chellaoui
Legal advisor: DE PARDIEU BROCAS MAFFEI, Corentin Coatalem
Siparex: Benoît Métais, Romain Boisson de Chazournes
Investors’ advisor – Financial audit: DELOITTE (Vincent Gros, Aurélien HANIN, Julien JAUNET), Tax
and Social: LANDWELL & ASSOCIES (Sylvain Gagneux, Cédric Sapède), Legal: cabinet CUVELLIER
(Myriam Cuvellier) and BBMA (Bernard Dumas), Market due dilignence: INDEFI (Julien Berger)
Press contacts:
Siparex:
Priscille Clément – + 33 (0)1 53 93 04 27 – + 33 (0)6 14 80 75 22 – [email protected]
Le Temps des Cerises:
Nicolas Faure - +33(0)1 40 26 90 84 +33(0)6 72 00 40 23 - [email protected]
2