The US-headquartered investment firm backed by France's LVMH offered €43 per share and valued Tod's at just over €1.4 billion ($1.51 billion).

L Catterton owned 3.8 per cent of Tod's capital after buying shares in the group during the session, the former said in a statement.

The Della Valles, who own 64.5 per cent of Tod's, had made an unsuccessful attempt in 2022 to take the company private. The family had then offered a 20 per cent premium to buy out other investors.

However, the founding family, which had said they could take Tod’s private by merging it into their DeVa Finance vehicle, refrained from taking any such decision.

But L Catterton plans to merge Tod's into the vehicle used to launch the offer if the bid fails to reach the delisting threshold.

Fibre2Fashion News Desk (DS)