Swiss firm Maus Freres snaps up Lacoste

LACOSTE has been snapped up by Swiss family-owned group Maus Freres in a deal which valued the French brand at €1bn (£0.8bn), Maus Freres said yesterday. Founded in 1933 by French tennis champion Rene Lacoste, his descendants have decided to sell their remaining stake to the Swiss retailer, which already own 35 per cent, after a feud over management.