Pierre Mestre’s NewOrch has recently received court approval to take over Orchestra-Prémaman, a renowned children’s fashion company. The decision was made by Montpellier’s commercial court on June 19. This acquisition allows Pierre Mestre, the founder and president of Orchestra-Prémaman, to purchase stocks of the group through his newly established company, NewOrch. As part of this deal, NewOrch will gain control of 430 stores and employ a workforce of 3,769 individuals. Unfortunately, around 600 associates and 100 stores will not be included in this transition. Nevertheless, all employees at the company’s warehouse in Saint Aunès and its joint venture in Arras will continue their work.

Pierre Mestre expressed his unwavering commitment to the company and emphasized the significance of handing over Orchestra-Prémaman to professionals who have been instrumental in its development over the past 25 years. Mestre highlighted that the main objective of this acquisition is to minimize the impact on jobs while upholding the company’s values and supporting its talented community. Orchestra-Prémaman was initially founded in 1995 by Pierre Mestre and his wife, Chantal. The acquisition plan for NewOrch has been allocated a substantial financing amount totaling 176.4 million euros.

Another company, Al-Othaim, based in Saudi Arabia, also made an offer to acquire Orchestra-Prémaman. However, their bid was unsuccessful. Despite this, Al-Othaim conveyed their best wishes to the teams at Orchestra-Prémaman and expressed their gratitude to the employees for their support throughout the process. In September 2019, Orchestra-Prémaman entered into a company voluntary arrangement and was subsequently placed in receivership on April 29, 2020. In total, the group generates annual revenues of 563.5 million euros and operates approximately 550 stores worldwide, including franchise locations. The company employs a workforce of 4,500 individuals.

Useful links referenced in the article:
1. NewOrch – NewOrch’s official website for more information about the company.
2. Orchestra-Prémaman – Orchestra-Prémaman’s official website to explore their products and services.