Nexxus Capital has announced its divestment from Mexican retail holding company Moda Holding.
(Press Release) Nexxus Capital announces that on June 9, 2017 it reached an agreement to divest from Moda Holding, a holding company with the primary purpose of acting as a diversified platform of leading brands in the apparel retail industry in Mexico, such as Dorothy Gaynor (dress and casual footwear) and Zingara (swimwear & beachwear). Nexxus Capital first invested in Moda Holding in August 29th, 2011.
The divestment will be made through Nexxus IV&V, once certain closing conditions are met, including the approval from Mexico’s Antitrust Authority. Once the closing conditions are met, Moda Holding will be acquired by Acritus, a Mexican company dedicated to the design, distribution and sale of fashion footwear with more than 30 years of experience.
Since Nexxus Capital’s investment, the company has had significant commercial growth, increasing its points of sale from 88 to 178, due to the incorporation of Zingara and the organic growth of both brands, driven by solid operating performance.