Hoff sells minority stake to fuel growth and expansion plans

Spanish fashion brand Hoff has sold a minority stake in its business to Luxembourg-based private equity fund Rahco Capital to fuel its next phase of expansion and growth.

Following the closing of the acquisition, Hoff founder Fran Marchena will continue to operate the brand, and maintains the position of majority and controlling shareholder, retaining 85 percent of Hoff’s shareholding.

In a release, Marchena said the incorporation of Rahco represented a “strategic step” for the company, “aimed at strengthening professionalism and taking advantage of its experience in other key sectors”.

Marchena added that the minority stake will “allow us to enrich our operation and processes with new perspectives, in line with our commitment to offer maximum value to our clients” while continuing on a “solid growth trajectory”.

In his own statement, Manel Cerqueda, partner at Rahco Capital, said the firm was “excited to be part of Hoff’s growth”, the brand having a business model that “fit perfectly with the type of company we are looking for at Rahco”.

Cerqueda reaffirmed that “we are sure that Hoff will not only strengthen its position in the market, but will become a global benchmark”, in line with its strategic objectives.

The terms and price of the acquisition were not disclosed.