No financial details released (Il Sole 24 Ore Radiocor) - Zurich, 12 Jul - The Swiss underwear and lingerie group Calida said that it has received a binding offer from Peugeot Freres Industrie for Lafuma Mobilier, a French brand outdoor and garden furniture.

The sale is subject to a consultation procedure in France.

Lafuma Mobilier operates in over 40 countries and generated 48.9 million euros in saales in 2023.

"For the Calida Group, the divestment of the non-strategic outdoor furniture business is an important step in its strategic reorganization process started one year ago. The sale of Lafuma Mobilier allows the Calida Group to focus on the operational excellence and the development of its underwear and lingerie brands Calida, Aubade and Cosabella," it said.

The transaction is expected to be completed in the third quarter of the 2024. The parties have agreed not to disclose the details of the transaction, Calida added.

Calida will release half year results on July 25. It expects net sales from continued operations to be around 5% lower year-on-year at 111 million Swiss francs in the first half of the year. The operating loss from continuing operations is estimated between 0-1 million francs.

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(RADIOCOR) 12-07-24 19:13:41 (0559) 5 NNNN