Cyrillus

Canaccord Genuity acts as Exclusive Financial Advisor to Alpha Private Equity on the disposal of Cyrillus to MGA Paris and Alandia Industries

Canaccord Genuity is pleased to announce that its client, Alpha Private Equity, completed the disposal of Cyrillus (the “Company”) to MGA Paris and Alandia Industries on 11 May 2021.

Cyrillus is a European upscale brand dedicated to classic lifestyle families, offering women, men, children and baby ready-to-wear apparel as well as home furniture. The Company has an omnichannel strategy relying on a prime network of stores (56 retail stores in France and 6 abroad, including 6 corners in department stores) covering France’s most dynamic urban areas and a strong online presence (50% of sales in 2020). Headquartered in France, Cyrillus is also present in four European countries (Belgium, Luxembourg, Germany and Switzerland). The Company generated €73m of sales in 2020.

Canaccord Genuity advised on the carve-out of Cyrillus from CVG (Cyrillus Vertbaudet Group), to optimize Cyrillus’ valuation while managing the ongoing sale process of Vertbaudet Group (leading European e-commerce platform dedicated to childhood, with c.€290m sales in 2020). Canaccord Genuity organized a targeted auction, with selected strategic investors and financial sponsors, which lead to the acquisition of Cyrillus by MGA, the holding company of apparel brands "Des Petits Hauts" and "Harris Wilson", and Alandia Industries, a seasoned turnaround investor.

This transaction further reinforces Canaccord Genuity’s credentials in the retail sector as well as its relationships with financial sponsors.