Pragma help AIB Bank with the Peine Group
4th May 2010
Pragma recently provided AIB with an operational and strategic assessment of Peine Group, the leading German menswear wholesaler. The company is headquartered in Wilhelmshaven, Germany and has operations across Europe.
Pragma's team, led by CEO Patrick Woodall, were employed because of their specialist sector knowledge and market understanding. Pragma's business review identified how a restructured Peine could achieve a successful future.
Subsequently, Gordon Brothers has acquired a significant part of the business and assets of Peine, through a new vehicle, Peine Gruppe.
The transaction has secured the future of the Mario Barutti and Masterhand divisions, ensuring that the majority of jobs within the group have been saved.
Samantha Cunningham, Head of Corporate Portfolio Team, AIB Bank, said:
"Pragma worked with us on this very challenging project. We chose them for their specialist sector knowledge and international experience. In very demanding circumstances, Pragma's team really went the extra mile to deliver an insightful assessment of the business, its strategy and management, and supported us throughout in making the right decisions, both for AIB and the company, concerning the business's future."
Patrick Woodall of Pragma said:
"This project required a very detailed understanding of menswear - both wholesale and retail - and specific experience of the German and other international markets. We were able to deliver clear, actionable recommendations for the future of this well-known business and are delighted that such a successful outcome has been achieved for all key stakeholders"
Pragma's team, led by CEO Patrick Woodall, were employed because of their specialist sector knowledge and market understanding. Pragma's business review identified how a restructured Peine could achieve a successful future.
Subsequently, Gordon Brothers has acquired a significant part of the business and assets of Peine, through a new vehicle, Peine Gruppe.
The transaction has secured the future of the Mario Barutti and Masterhand divisions, ensuring that the majority of jobs within the group have been saved.
Samantha Cunningham, Head of Corporate Portfolio Team, AIB Bank, said:
"Pragma worked with us on this very challenging project. We chose them for their specialist sector knowledge and international experience. In very demanding circumstances, Pragma's team really went the extra mile to deliver an insightful assessment of the business, its strategy and management, and supported us throughout in making the right decisions, both for AIB and the company, concerning the business's future."
Patrick Woodall of Pragma said:
"This project required a very detailed understanding of menswear - both wholesale and retail - and specific experience of the German and other international markets. We were able to deliver clear, actionable recommendations for the future of this well-known business and are delighted that such a successful outcome has been achieved for all key stakeholders"