The two private equity firms will obtain a majority stake and co-control of the fashion retailer.
Paprika made €13.1m in 2006, and currently operates 33 stores in Belgium, Luxembourg and France. Its core customers, it says, are “fashion-minded, larger-sized women.”
Cassis, which offers clothing “for urban-active fashion-conscious women”, made €38.5m in 2006 and has 52 stores in Belgium and Luxembourg.
The deal is expected to close by the end of January 2008.