Multiply Group signs landmark investment with CVC and PAI Partners to secure a controlling stake (67.91%) in Tendam
- Editor
- Feb 25
- 2 min read
Whats Happening:
Multiply Group PJSC has agreed to acquire a controlling stake of 67.91% in Castellano Investments S.À R.L., the owner of Tendam Brands S.A.U and other subsidiaries. This investment marks Multiply Group's entry into the retail and apparel sector and its first major investment in Europe. Tendam is Spain's second-largest apparel group by market share and operates over 1,800 points of sale in nearly 80 countries.
Key Moves:
Multiply Group acquires 67.91% controlling stake in Tendam
Tendam becomes anchor for Multiply Group's new retail and apparel vertical
Investment marks Multiply Group's first major entry into European market
By The Numbers:
Tendam's total sales for last twelve months stood at €1.4 billion
Tendam's EBITDA post IFRS-16 was €341 million
Tendam operates over 1,800 points of sale in nearly 80 countries
Key Quotes:
"The majority stake in Tendam achieves three strategic goals for Multiply Group: It enables us to push forward with our commitment to create double-digit EBITDA growth." - Samia Bouazza, Group CEO and Managing Director of Multiply Group
"The investment by Multiply Group is an endorsement of that strategy and affords increased capacity for accelerated growth." - Jaume Miquel, Chairman and CEO of Tendam
"We are very excited to partner with Multiply Group and continue supporting Tendam in this new phase of growth." - Caroline Goergen, Director at Llano Holdings S.à r.l.
Bottom Line:
Multiply Group's acquisition of a controlling stake in Tendam represents a significant expansion into the retail and apparel sector and the European market. This strategic move is expected to double Multiply's operational EBITDA post-consolidation, aligning with the fund's goal of creating double-digit EBITDA growth and expanding its international portfolio.
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