On Thursday, September 4, Groupe Rocher, owner of Yves Rocher and Dr. Pierre Ricaud, announced that it had chosen Regent as the preferred buyer for Petit Bateau, a historic French textile company founded in Troyes in 1893. Although the exact amount and scope of the transaction have not been disclosed, the sale, which is still subject to consultation with employee representatives, will mark an important step for the label known worldwide for its knickers, yellow oilskins, and iconic milleraies knitwear.

A Californian fund specializing in heritage brands

Behind the takeover is Regent, a Beverly Hills-based private equity fund founded in 2013 by American businessman Michael Reinstein. The group positions itself as a specialist in reviving historic brands, which it buys to give them a new lease on life.

Its activities span several sectors, from consumer to industrial, technology, and media, with a presence in Europe, North America, and Asia. In all, its portfolio comprises several hundred companies.

In just over a decade, Regent has built up a diverse portfolio of brands, from ready-to-wear to media. On the fashion side, in 2021, the fund acquired Hanes Europe Innerwear (HEI), the parent company of Dim in France and Playtex and Shock Absorber in Spain.

In 2018, in North America, the group had already taken over La Senza, another lingerie brand. Its portfolio also includes Club Monaco and the Munich-based women’s ready-to-wear label Escada. On the fashion front, its most recent acquisition came in August 2024 with the takeover of Swiss luxury house Bally.

Regent’s portfolio reflects an interest in established brands, sometimes in difficulty, but with an international reputation and recognized expertise.

For Michael Reinstein, the acquisition of Petit Bateau is in line with this continuity. In a press release sent out on Thursday, he emphasized that Petit Bateau is “a French institution, deeply rooted in Troyes”, and affirms his desire to preserve “its artisanal traditions, its French spirit, and the trust of its families.”

For Groupe Rocher, the sale is in line with its strategy of refocusing on its cosmetics activities. As for Petit Bateau, which has returned to growth since 2024 and employs nearly 2,400 people in 55 countries, its future will depend on Regent’s ability to combine economic recovery with respect for a heritage woven over more than 130 years.