Grendene forms joint venture for international sales

Grendene forms joint venture for international sales

Equity Commerce Brazil United Kingdom United States Italy

Brazilian footwear company Grendene has formed a joint venture with local investment management company 3G Radar to sell sandals in international markets, according to a securities filing. The two companies will invest up to $100 million into the new venture, but 3G will control the JV with 50.1% of shares, Grendene said in the filing on Thursday. It also said that 3G Radar had reached an agreement to buy up to 12% of Grendene. The new company, called Grendene Global Brands, will be based in the

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial