Calyon acted as exclusive Financial advisor to the private equity firm Advent International for the acquisition of French apparel retailer Gérard Darel.

Since February 2008, Calyon has worked closely with the private equity firm Advent International on the preparation of its offer in a competitive disposal process, on the structuring of its financing and assisted the firm in the negotiations that led to the acquisition of a majority stake in the French fashion retailer Gérard Darel.

The founders of the company, Danièle and Gérard Gerbi, their son Laurent Gerbi (one of the two CEO's of the company), and the key managers, will retain a minority stake. Founded in 1971, Gérard Darel is one of the leading brands in the mid to high-end women's ready to wear market and the leather goods segment. As of today, the group has a double distribution channel in France and abroad, with 111 points of sales and a wholesale network mainly composed of 1 200 multi-brand boutiques. In 2007, Gérard Darel generated a turnover of EUR 158 million, of which 56% of retail sales. With more than 30% of its turnover coming from international markets - mainly Spain, Benelux, the UK and Italy - the group aims at developing its international presence with the support and expertise of Advent international.

The deal value has not been disclosed but the company matches the prime target of Advent International (companies with a valuation higher than EUR 200 million), which realized this investment through its new buyout fund, GPE VI, closed last April. The financing of the operation includes a senior debt facility underwritten by WestLB, Fortis and IKB, and a mezzanine debt.

With the contribution of three entities of Crédit Agricole SA in the financing of the operation - LCL and CADIF for the senior debt, and Mezzanis for the mezzanine debt - the group has played a major role in setting up the deal financing and contributed positively to its success.