Lacoste acquired by Switzerland's Maus Frères

GENEVA - Lacoste SA, the French classic fashion brand that bears the crocodile symbol, has been acquired fully by the Swiss family-held group Maus Frères, the buyer said on Thursday.

The deal - which follows a Lacoste family feud over management - valued the French sportswear maker at 1.0 billion euros, Maus Freres said in a statement issued in Geneva.

"All Lacoste family shareholders have decided to sell the totality of their shares to Maus Frères, which already held 35 percent of Lacoste capital via its subsidiary Devanlay," it said regarding the brand founded by tennis man Rene Lacoste.

Reporting by Stephanie Nebehay