Canadian swimwear retailer Boutique La Vie en Rose has signed a deal to acquire Groupe Bikini Village.
Groupe Bikini Village, which operates 48 stores, was under creditor protection in Canada. The transaction is expected to close at the end of March and is still subject to court approval.
Francois Roberge, president and chief executive officer of Boutique La Vie en Rose Inc. said, “We are happy to preserve the continuity of the Bikini Village banner to keep the ownership in Canada and most of all save the 300 store jobs in these difficult times for the industry.”
Roberge said the transaction consolidates his company’s position as the number one swimwear retailer in Canada and that the company plans to take advantage of that to “strengthen our international presence by exporting the banner outside the country.”