Steven Madden, Ltd. announced on February 13, 2025, a definitive agreement to acquire UK-based Kurt Geiger from a group led by Cinven for an enterprise value of approximately £289 million in cash, equivalent to about $360.09 million. This acquisition is expected to significantly expand Steven Madden's presence in international markets and the high-growth accessories category.
Edward Rosenfeld, Chairman and CEO, highlighted Kurt Geiger London's exceptional growth, unique brand image, and strong performance across multiple product categories, particularly handbags. The acquisition aligns with Steven Madden's strategic pillars of international expansion, growth in accessories, and direct-to-consumer channels, making it a complementary addition to its brand portfolio.
For the twelve months ended February 1, 2025, Kurt Geiger had estimated revenue of approximately £400 million. The transaction is anticipated to close in the second quarter of 2025, subject to regulatory clearance and customary closing conditions, and will be funded through a combination of committed debt financing and cash on hand.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.