Moet Hennessy Louis Vuitton (LVMH) will acquire Royal van Lent, the builder of luxury mega-yachts.
French luxury products group LVMH Moet Hennessy Louis Vuitton said Monday it has signed an exclusive agreement with Dutch investment company Egeria to acquire Royal van Lent, the Dutch designer and builder of luxury custom mega-yachts sold under the Feadship brand. The talks with owner Egeria, a Dutch investment firm, are based on an acquisition price worth approximately 11 times net profit. The estimated price equates to a transaction value of less than 500 million euros, a source familiar with the talks said. This acquisition will enable LVMH to enlarge its scope of activities and to expand its presence in products and services at the top of the luxury market. – From Perfect Knowledge PR