Allens has advised the shareholders of Australian luxury fashion label Zimmermann on the sale of a majority stake to Style Capital.
The sale sees the Milan-based private equity sponsor acquire a stake in the business, with the Zimmermann founders – Nicky and Simone Zimmermann and CEO Chris Olliver – retaining an interest. General Atlantic, a global growth equity firm which acquired a minority interest in 2016, now exits the business.
‘We are delighted to have continued our work with Zimmermann and its shareholders to achieve this outcome, having previously advised the shareholders on the investment by private equity firm General Atlantic,’ said lead Partner Tom Story.
‘As an adviser, it is immensely rewarding to see Zimmermann’s international success story unfold. We look forward to seeing what comes next.’