The Carlyle Group announced it had acquired a stake in Brazilian lingerie maker, Scalina. The Carlyle Group, a private equity company, said the move is aimed at making use of the fast growing lingerie and hosiery market in Brazil, Latin America’s biggest economy. Reports indicate that the deal for the Brazilian firm might be pegged at about $123 million. For that amount, the Carlyle Group will acquire a 51% stake in Scalina.

Carlyle Group said the financing for the stake investment will be gotten from its South America buyout fund and FIP Brazil de Internacionalização de empresas (FBIE), which is managed by Carlyle and advised by Banco de Brasil.

The Brazilian firm, Scalina, is a maker of clothing items such as socks, tights and lingerie under the TriFil and Scala brands. Other than the brands, Scalina as well owns patents certified in the country for products like anti-cellulite shape wear and anti-varicose veins socks, said a press statement from the firm. The Carlyle Group reiterated that its main motivation for the Brazilian investments is the overall, impressive performance of its lingerie and hosiery market.

Over the past five years, the lingerie and hosiery industry in Brazil has developed at almost double the rate of GDP, reported Carlyle. The growth, rapid as it is, has been bolstered by a robust and rapidly burgeoning middle class, and the increased number of women in the country’s labor force, added the statement. However, this is not the Carlyle Group’s first investment foray into Brazil.

Currently, the Carlyle Group owns a host of other investments in the country, such as an investment in CVC S.A, considered the biggest tour operator in Latin America; Qualicorp, a health care firm in the country, and Scopel, a real estate firm based in the state of Sao Paolo. Scalina’s revenues stand at $227.7 million currently. Juan Carlos, Carlyle director, said the firm will be on the lookout for additional acquisitions in Brazil that offer growth opportunities.

The Carlyle Group is a global alternative asset manager with more than $90.5 billion under management. With 67 funds across four investment disciplines-buyouts, credit alternatives, growth capital and real estate-Carlyle relies on a top-flight team of more than 400 investment professionals operating out of offices in 19 countries to scour superior opportunities in North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America.

1 Sep 2010.