Tod’s family steps back from buyout
26/10/2022
Majority shareholders, brothers Diego and Andrea Della Valle, intended to acquire a holding of at least 90% via their DeVa Finance vehicle, incorporated in late July. They offered to buy out other investors at €40 a share, but were only able to increase their stake to a little below 87% by the final day.
The family needed to meet or exceed the 90% ownership threshold to be eligible to take Tod’s private ahead of an intended relaunch and restructuring, under which its brands – the most profitable of which are Tod’s and Roger Vivier – would be managed separately, with the possibility of a divestiture of less successful subsidiaries also on the cards. In stepping back from this initial attempt, the Della Valles maintain 64.5% ownership.
Tod’s portfolio includes Roger Vivier, Hogan and Fay, in addition to its eponymous footwear brand.
French luxury group LVMH has owned a 10% share in the firm through fully owned subsidiary Delphine since April of last year, the same month Italian mega-influencer Chiara Ferragni joined Tod’s board.
Tod’s Gommino driving loafers. Credit: Tod’s.
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