Dass Nordeste Calçados e Artigos Esportivos S.A. completed the acquisition of 60% stake in Terras de Aventura Indústria de Art Esportivos Ltda from Alpargatas S.A..
April 18, 2022
Share
Dass Nordeste Calçados e Artigos Esportivos S.A. signed a binding offer to acquire 60% stake in Terras de Aventura Indústria de Art Esportivos Ltda from Alpargatas S.A. (BOVESPA:ALPA4) for an enterprise value of approximately BRL 400 million on November 1, 2021. The proposal is composed of a fixed portion of approximately BRL 300 million, to be paid in 3 installments, and a variable portion in the amount of up to Approximately BRL 100 million, subject to the achievement of certain targets during 2022 and 2023. The payment will be made within 4 years of receipt of the Proposal, subject to the inflation adjustment, in proportion to the corporation's stake. The conclusion of this transaction is subject to the negotiation to the satisfaction of the parties involved of terms of the final agreements and other conditions usual for operations of this nature, including the performance of an audit. Alpargatas S.A. announced that antitrust body Cade has approved the sale of its shares. Investment One Partners acted as an exclusive financial advisor to Alpargatas in the transaction.
Dass Nordeste Calçados e Artigos Esportivos S.A. completed the acquisition of 60% stake in Terras de Aventura Indústria de Art Esportivos Ltda from Alpargatas S.A. (BOVESPA:ALPA4) on April 19, 2022.
Alpargatas SA, formerly Sao Paulo Alpargatas SA, is a Brazil-based company engaged in the production of footwear, apparel and sporting goods. The Company manufactures and sells footwear and its components, clothing as well as textile products. The Company's brand names portfolio includes Havaianas, manufacturing flip-flops in numerous designs and colors; Osklen, a fashion brand offering male and female clothing, shoes and accessories, such as bags and sunglasses, and Dupe, sandals manufacturer that uses HXP Gel technology which provides more comfort and softness to the consumersâ feet. The Company is present throughout the world, including Colombia, Hong Kong, London, Lisbon and Sao Paulo.
Dass Nordeste Calçados e Artigos Esportivos S.A. completed the acquisition of 60% stake in Terras de Aventura Indústria de Art Esportivos Ltda from Alpargatas S.A..