Multiply Group acquires 67% of Tendam from CVC and PAI: Advisors
Multiply Group has acquired a 67.91% controlling stake in Castellano Investments, owner of Tendam Brands and its subsidiaries. The transaction, subject to the approval of the relevant regulatory authorities, makes Multiply Group the majority shareholder alongside Llano Holdings and Arcadian Investments, the corporate investment vehicles of CVC Funds and PAI Partners, which will continue as minority shareholders.
Tendam, the second largest Spanish textile group by market share and one of Europe’s leading omnichannel textile groups, is at a key moment in its growth. Multiply Group will lead the next phase of expansion, focused on internationalization and the development of its omnichannel ecosystem.
KPMG Abogados has advised Multiply Group. In particular, Tax structuring and Tax due diligence teams have been led by Carlos Marín Pizarro and Pilar García Molinero, M&A Tax partners, respectively.
Hogan Lovells Madrid has advised Multiply Group, with a team led by Alex Dolmans, partner of Corporate M&A, with a team formed by counsel Enrique de Pablos and senior associates Hugo Muñoz and Adrián Fernández, and also provided advice on Competition aspects by partner Casto González-Páramo and senior associate Raquel Fernández.
Uría Menéndez has advised CVC and PAI Partners with a team comprising Manuel Echenique Sanjurjo, Alex Bircham, Guillermo del Río and Ghizlane Laaouej. In competition matters, Tomás Arranz Fernández-Bravo, Jokin Beltrán de Lubiano and Andrés Vázquez García advised the firm.
