The Tod's Italian Experience Gets a LVMH-L Catterton French Financial Infusion AOC Art of Living

On Super Bowl Sunday, the Tod’s-LVMH decades-long business connection went into high gear with news that Tod’s Diego Della Valle, his brother Andrea Della Valle and the LVMH-backed private equity firm L Catterton have entered an agreement involving the launch of a tender offer at €43 per Tod’s share.

The goal of delisting Tods’Group from the Italian stock exchange is in sight. This is a premium of 17.6 percent compared to the price of the shares on Feb. 9.

Today’s financial offer will leave the Della Valle Family with a 54 percent stake in Tod’s Group capital and assets; L Catterton will indirectly own 36 percent and Delphine SAS [a fully-owned subsidiary of LVMH] will retain a 10 percent stake.

In 2021 LVMH increased its stake in Tod’s from an original 3.2% stake to 10 percent, via Delphine SAS. Tod’s Group brands include Hogan, Roger Vivier and Fay besides Tod’s.

Deep-Roots, Dynamic Forests and Fruit Orchards

Tod’s first announced a desire to delist its company from the Italian stock exchange in August 2022. That effort failed in October 2022, when a bid launched solely by the Della Valle family failed to reach the 90% threshold required to delist.

If this offer also fails to reach the 90% acceptance threshold, the parties say that a merger will be explored.

Anne of Carversville wrote days ago about about our growing understanding of the management style of LVMH/Bernard Arnault-trained executives. The trees planted in brand forests have deep roots that bear premium fruit with long-term alliances, strong interpersonal friendships, trust and loyalties.

Our pov is only enhanced by today’s announcement. ~ Anne