Lacoste acquired by Switzerland's Maus Freres

GENEVA Thu Nov 15, 2012 4:29am EST

French sport label Lacoste logo is seen in Paris February 19, 2008. REUTERS/Charles Platiau

French sport label Lacoste logo is seen in Paris February 19, 2008.

Credit: Reuters/Charles Platiau

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GENEVA (Reuters) - Lacoste SA, the French classic fashion brand that bears the crocodile symbol, has been acquired fully by the Swiss family-held group Maus Freres, the buyer said on Thursday.

The deal -- which follows a Lacoste family feud over management -- valued the French sportswear maker at 1.0 billion euros, Maus Freres said in a statement issued in Geneva.

"All Lacoste family shareholders have decided to sell the totality of their shares to Maus Freres, which already held 35 percent of Lacoste capital via its subsidiary Devanlay," it said regarding the brand founded by tennis man Rene Lacoste.

(Reporting by Stephanie Nebehay)

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