OVS to acquire controlling stake in Goldenpoint by July 2025

OVS S.p.A. has finalised the investment agreement in Goldenpoint by subscribing a convertible bond and acquiring 3 percent of the share capital for a total amount of 3 million euros.

The company said in a statement that through the conversion of the bond and the exercise of a subsequent call option, OVS will increase its stake in Goldenpoint to 51 percent by July 31, 2025.

The agreement consolidates the industrial integration process of Goldenpoint into OVS, aimed at strengthening the group's main role in underwear and swimwear through the enhancement and development of a retail network.

OVS announced the intent to acquire a stake in Godenpoint in April 2024, and had said that the partnership aims to improve Goldenpoint’s performance by strengthening its current product offering and achieving synergies by sharing the OVS group’s supply chain, as well as opening new stores.

In April 2024, Goldenpoint had a sales network of approximately 380 stores in Italy, and a turnover of almost 100 million euros.