Business

Bikini Village to be acquired by La Vie en Rose

Two of Canada's largest sellers of swimwear will become one if a merger between Bikini Village and La Vie en Rose goes through

Deal would maintain most store locations

Two of Canada's largest sellers of swimwear will merge if the deal between Bikini Village and La Vie en Rose goes through. (Bloomberg)

La Vie en Rose will buy Bikini Village for an undisclosed sum and continue to run the chain under the two seperate brand names.

Bikini Village, a swimwear and underwear maker with 52 stores and 300 retail jobs across Canada, had been under creditor protection after going insolvent on February 17. The chain currently has 52 stores, but only 48 of them will continue to operate if the deal goes through, a spokesman told CBC News. In addition, 100 jobs at the company's Montreal head office will be lost in the process, the spokesman added.

"This acquisition will not only allow us to consolidate our position as the #1 swimwear retailer in Canada, but we also plan to take advantage of it to strengthen our international presence by exporting the banner outside the country," said François Roberge, president of La Vie en Rose, which has 180 store locations.

La Vie en Rose has doubled its retail footprint since beginning an expansion plan a decade ago, and currently has stores in 17 countries.

The deal is expected to close at the end of this month if approved by the Superior Court overseeing Bikini Village's creditor proceedings.

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