Grandway Advised Biem.L.Fdlkk on Cross-border M&A of International Luxury Brands CERRUTI 1881 and Kent & Curwen

Biem.L.Fdlkk Garment Co., Ltd. (“Biem.L.Fdlkk”, 002832.SZ) has announced the M&A of brands “CERRUTI 1881” and “Kent & Curwen”. Biem.L.Fdlkk has completed equity delivery and transfer procedures of the subject company in the transaction. The amount of the transaction is EUR 95 million, and Biem.L.Fdlkk holds the equity interest in the subject company through its Hong Kong subsidiary and indirectly holds the above-mentioned brands, becoming the ultimate holder of the trademarks and related intellectual property rights of the two brands on a global scale.

CERRUTI 1881, with a century-old history dating back to 1881, has won the perennial favor of clients worldwide for its clean and smooth lines, meticulous and luxurious texture and elegant humanistic temperament, and has developed into a world-renowned luxury brand. Kent & Curwen, a British brand founded in 1926, has become a world-renowned apparel brand with its iconic emblem of “three lions” and excellent quality that has lasted for nearly a century. After the acquisition, Biem.L.Fdlkk will actively participate in the industry segments, promote brand diversification, internationalization and high-end layout, enhance industry influence and international reputation, in order to continuously stimulate the endogenous growth potential, while in-depth study of brand trends and industry trends to increase the outward expansion. In addition, Biem.L.Fdlkk can achieve synergistic effects at three levels: market expansion, brand integration and cultural accumulation, to promote the expansion of brand market share, increase profitability and reduce costs after M&A, and also do the top-level design for the future development strategy in advance.

Over the years, Grandway has been deeply engaged in in domestic and overseas M&A. With its profound professional strength, Grandway has provided legal services for a series of cross-border M&A projects, including this project, Xinbao’s acquisition of Morphy Richards brand and related assets project, the acquisition of Teenie Weenie brand assets and business by Vgrass and the M&A restructuring of Shanghai RAAS, and has been awarded by ALB, LEGALBAND and other authoritative legal rating agencies for many years on the M&A list. In this project, as the buyer’s lawyer, Grandway provided legal services of the whole process, including the establishment of the preliminary fund, the selection of the transaction plan, filingODI, the drafting, modification and negotiation of the agreements, the due diligence of the subject assets and the subject company, and the assistance in the settlement, etc. Grandway are highly recognized by its clients for the core service philosophy of “cherishing trust and living up to the trust” and for its quality and efficient legal services.