The US-based investment firm backed by France's LVMH offered 43 euros per share and valued Tod's at just over 1.4 billion euros ($1.51 billion).
L Catterton owned 3.8 percent of Tod's capital after buying shares in the group during the session, the former said in a statement.
L Catterton has offered to buy a 36 percent stake in Italian luxury shoe maker Tod's and take it private, according to the founding Della Valle family. The first offered 43 euros per share and valued Tod's at more than 1.4 billion euros. L Catterton plans to merge Tod's with the vehicle used to launch the offer if the offer does not meet the exclusion threshold.
The Della Valles, owners of 64.5 percent of Tod's, attempted unsuccessfully in 2022 to privatize the company. The family then offered a 20 percent premium to buy out other investors.
However, the founding family, which had said it could privatize Tod's by merging it with its DeVa Finance vehicle, refrained from making such a decision.
But L Catterton plans to merge Tod's with the vehicle used to launch the offer if it does not meet the exclusion threshold.
Fiber2Fashion News Desk (DS)
