Mata Capital Group, an independent player in real estate investment, announces the acquisition of Marques Avenue, a pioneer and leader in outlet retailing in France.
As of June 1, 2023, the Group’s company dedicated to operating retail real estate, headed by Renaud Maret, takes over the operational management of outlet centres operated under the Marque Avenue banner. On the real estate front, the Group’s asset management company has acquired, through a dedicated institutional fund, 4 of the 7 centers operated by Marques Avenue and a fifth one, third-party managed, whose management has been transferred to Marques Avenue.
This deal illustrates Mata Capital’s conviction in aligning retail real estate management with operations to support changes in the retail sector and counter “retail bashing”.
With the acquisition of Marques Avenue, Mata Capital shows its ambition in terms of outlet centers operational management and brand development. Mata Capital confirms Zakari Leriche as CEO of the company and all of the current teams, supported by the experience of Renaud Maret, as well as the one of the founder of Marques Avenue, Alain Salzman, who remains a reference shareholder and member of the strategic committee.
“After 30 years dedicated to the wonderful adventure Marque Avenue, I am delighted to see the company and its brand with5 of its major sites, join the Mata Capital Group and its vision, ambition and strong dynamism. I am convinced this is a historic turning point for all of us and I’m delighted to share this adventure with Jean-Baptiste Pracca and Laurent Delautre under the collegial guidance of Renaud Maret and Zakari Leriche,” says Alain Salzman.
“In the 90s, Marques Avenue made the outlet concept a reality in France. Alain Salzman and his teams pioneered this market, with all the success we know. Today, alongside Zakari, we are proud to write new chapters in this story and have big plans for this type of retailing, in which we believe strongly”, comments Renaud Maret.
Repositioning centres and adopting a virtuous approach
This acquisition, with the investment of tens of millions of euros that will be injected in the centers, aims to reinvent the Marques Avenue model and accelerate the renewal of these sites. The real estate know-how of the Group’s asset management company, combined with Marques Avenue’s 30 years of expertise as a developer and operator of outlet centres, will enable the company to initiate a new cycle of growth.
In this way, the Mata Capital Group aims to enhance the operator’s potential, while preserving the brand’s strong values and the commitment of its employees.
Three development priorities will be pursued:
– Modernising and repositioning centres;
– Renewing customer experience with an enriched merchandising mix to boost visiting figures and relaunch a virtuous sales cycle, with a high brand attractiveness for retailers;
– Market consolidation through development, acquisition of new mandates,or even site takeovers.
Finally, the Mata Capital Group has strong CSR ambitions for Marques Avenue. In particular significant ESG investments in the assets through its asset management company, the transformation of the operating company into an “Entreprise à mission” , with the aim to obtain the B Corp “Certified B Company” label by 2025.
“The world of retail and commercial real estate is traditionally managed independently.
“At Mata Capital, we believe that this is a fundamental error putting at risk numerous business models, whether for retailers or lessors. With the acquisition of Marques Avenue, this vision becomes a reality, and it’s only the first of many projects we will have in this field,” says Jean-Baptiste Pracca, managing partner of Mata Capital.
