“Considering that the operation is not likely to prejudice competition, insofar as the parties are not active in the same or in related markets, nor along the same supply chain, the authority has unconditionally approved the transaction,” the competition authority said in a statement.
Verdoso has offices in France and Luxembourg and was founded in 1997 by Franck Ullmann. It specialises in acquiring stakes in medium-sized companies in need of a reboot, chiefly in the French manufacturing, services and consumer goods sectors. The Verdoso assets cited by the authority include Farinia (industrial materials), Kompass (corporate marketing), and restaurant brand La Pataterie.
Verdoso’s task will be to rejuvenate The Kooples, which was founded in 2008 by the three Elicha brothers and in recent seasons has lost much of its sparkle in the under-pressure affordable luxury segment. The Kooples was acquired by MF Brands in 2019, and the Swiss group has thrown in the towel after five years. According to publicly available information, operating company The Kooples Production generated revenue of €106 million in 2023, with a net loss of €24.3 million.
The competition authority stated that The Kooples currently has 184 stores in France and 86 elsewhere in Europe.
