Louis Vuitton Parent Snaps Up Croc Skin Co. For $123M

Law360, New York (October 7, 2011, 3:58 PM EDT) -- LVMH Moet Hennessy, the French fashion giant behind luxe fashion brands Louis Vuitton and Fendi, announced Friday it will buy a majority ownership stake in Singapore-based crocodile leather supplier Heng Long International Ltd. in a $123 million all-cash deal.

Run by four generations of the same family since the 1950s, Heng Long will maintain 49 percent of the shares, the company said Friday. The leather maker has long peddled its coveted crocodile wares to LVMH as well as other luxury and high-end fashion manufacturers around the...
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