Dynamic Deal: The Race to Own Le Coq Sportif
Le Coq Sportif to be purchased by the consortium, marking a shift in ownership for the French sports brand. - French sports brand Le Coq Sportif to be purchased by international consortium
Having graced the world of sports for centuries, Le Coq Sportif, the iconic French brand known for its distinctive rooster logo, is on the brink of a revival. With its 300 employees in France, the brand is now up for grabs, and a consortium is aiming to breathe new life into it and give it an international focus.
The deal, spearheaded by investment firm Neopar, takes a 51% share, with the remainder split between a group of investors, including Xavier Niel, sports luminaries, and former Le Coq Sportif executives (26.5%), and the American group Iconix, which owns Umbro and Lee Cooper (22.5%).
In addition to this front-running consortium, whispers of another offer have surfaced, with purported backing from the French state. However, details on this offer are scarce, and there's no clear confirmation of an offer from French-Swiss entrepreneur Dan Mamane [1][2].
Le Coq Sportif is straddled with debts of 60-70 million euros to public authorities, but the consortium's proposed injection of 60 million euros aims to stabilize and relaunch the brand, preserving the historic Romilly-sur-Seine site and its associated jobs [2].
The Consortium's Game Plan
- Neopar Steps In: Neopar, owned by the Poitrinal family, holds the majority stake at 51%. Their involvement signals a focus on restructuring and reviving the brand.
- Iconix's Global Prowess: With a 22.5% stake, Iconix brings international sports brand experience, offering potential for global distribution and marketing expertise [1][2].
- Industry Credibility: The remaining 26.5% is held by a group that includes Xavier Niel, former execs, and sports personalities, adding industry credibility and possibly star endorsement [1].
The Competition Heats Up
While the specifics of the second bid remain unclear, one offer enjoys the backing of the French state. Regarding Dan Mamane, the French-Swiss entrepreneur, there is no substantial public confirmation or coverage [1][3].
Protecting the Heritage
- Addressing Debt: The 60 million euro investment aims to stabilize and relaunch the brand, addressing an existing financial strain of 60-70 million euros.
- Site Preservation: The consortium has promised to preserve the Romilly-sur-Seine site, a key piece of the brand's heritage.
- Job Security: The consortium has expressed intentions to secure jobs and maintain the brand's French roots, although specific numbers are yet to be announced [2].
As the race for Le Coq Sportif progresses, the consortium's proposal—focused on refocusing the brand, deploying it globally, and reviving its French heritage—remains the most detailed and publically available offer [1][2][3].
- The Council, being represented by Neopar (a member of the consortium), is focusing on structuring the business and revitalizing Le Coq Sportif, as they hold the majority stake of 51%.
- In the context of business finance, the Council (Iconix, another member of the consortium) brings its international sports brand experience and expertise, contributing a 22.5% share in the acquisition of Le Coq Sportif.
