Mirabaud Patrimoine Vivant fund acquires stake in French sport brand Le Coq Sportif

By

Olivier Guyot

Translated by
Nicola Mira

Published
Mar 18, 2019

French sport brand Le Coq Sportif has a new shareholder. Airesis, the Swiss private equity firm led by Marc-Henri Beausire, the parent company of Le Coq Sportif, announced that the Mirabaud Patrimoine Vivant fund has invested €10 million in the French sport apparel brand. The new shareholder’s arrival should “enable [Le Coq Sportif] to continue to grow on the industrial and sporting front,” stated Airesis in a press release.

The Mirabaud Patrimoine Vivant fund was created in 2017 by Renaud Dutreil, formerly Secretary of State for SMEs, Commerce, Crafts and Liberal Professions in France between 2002 and 2007, formerly also with LVMH, and Luc-Alban Chermette, in partnership with Swiss firm Mirabaud Asset Management, led by Lionel Aeschlimann. The fund’s expressed purpose is to invest in ‘living heritage’ companies, with a €50 million endowment for its first undertakings. It is also looking for other investors in France, Switzerland and across Europe. As well as providing funding, Mirabaud Patrimoine Vivant also intends to offer strategy advice.

“Our investment in Le Coq Sportif is representative of our strategy, which is based on three principles: to support a credible entrepreneur, to promote manufacturing know-how, especially in France, and to bolster the expansion of brands distinctive for their innovation and creative values. Marc-Henri [Beausire] and his team have done a remarkable job, preserving and combining the industrial, sporting and territorial roots of Le Coq Sportif.”

In 2018, Le Coq Sportif generated a revenue of over €120 million, with EBITDA of 4.5%. It is increasingly active in sport sponsorships: after the Tour de France and top-flight football teams AS Saint-Etienne (France) and Fiorentina (Italy), it became the kit supplier of the French national rugby union team, and forged a partnership with the Renault F1 motor-racing team. Le Coq Sportif has also set its sights outside Europe, recently striking a kit sponsorship deal with Brazilian top-flight football team Atletico Mineiro. For the current financial year, the French brand is targeting a revenue of €135 million.