Tag Archives: Retail

Zabka Group Begins Trading On The Warsaw Stock Exchange

CVC Capital Partners

On 17 October 2024 Zabka Group debuted on the main market of the Warsaw Stock Exchange. The share price at the opening on the first day of trading was PLN 23, 7% higher than the price in the initial public offering. The debut on the WSE is the culmination of the company’s public offering, which had a value of PLN 6.45 billion. It is the largest public offering in Poland since 2020, one of the biggest in the history of the WSE, and the fourth-largest offering in Europe this year.

Tomasz Suchański, CEO of Zabka Group, said: “Zabka Group’s listing on the Warsaw Stock Exchange marks a major step in implementing our long-term growth strategy. We are well-positioned to double sales to end customers by 2028 and to open approximately 1,000 stores annually in Poland and Romania. The significant interest in our public offering from renowned Polish and international financial institutions, as well as retail investors, reflects the market’s confidence in our future. This support will further motivate us to continue to deliver stable and profitable growth, and to build value for our shareholders, customers and franchisees.”

Krzysztof Krawczyk, Chairman of the Board of Directors of Zabka Group and Partner at CVC Capital Partners, commented: “We are proud that our long-term partnership with Zabka Group has led to one of the biggest stock market debuts in the history of the WSE. We applaud the consistent strategic execution and the commitment to growth on the part of both Zabka Group’s management and employees. I would also like to thank our fellow shareholders, Partners Group and the EBRD, for their commitment to Zabka Group’s success and their continued support of the business.”

Key information about the Zabka Group public offering

  • The Offering comprised a public subscription for 300,000,000 existing shares, excluding any Over-Allotment Shares. Based on the set offer price (PLN 21.50, the top of the price range), the value of the Offering was PLN 6.45 bn.
  • Additionally, up to 45,000,000 Over-Allotment Shares are offered in the IPO. Assuming the Over-allotment Option is exercised in full, the value of the Offering will increase to PLN 7.42 bn.
  • The Selling Shareholders decided to allocate 5% of the final number of the Sale Shares in aggregate to Retail Investors (4.4% including Over-Allotment Shares).
  • The reduction rate for subscriptions of retail investors was 90.45%.
  • The Offering consisted of:
  • a public offering in the territory of Poland, including: (a) the Retail Offering and (b) the Polish  Institutional Offering, in accordance with Regulation S under the U.S. Securities Act;
  • an offering in the United States to persons reasonably believed to be qualified institutional buyers as defined in, and in reliance on, Rule 144A, or another exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act; and
  • an offering to certain other institutional investors outside of the United States and Poland in accordance with Regulation S under the U.S. Securities Act.
  • Goldman Sachs Bank Europe SE and J.P. Morgan SE acted as the Joint Global Coordinators and Joint Bookrunners and PKO BP – Biuro Maklerskie w Warszawie (PKO Securities) as an Offering Agent and Joint Bookrunner. Banco Santander, Biuro Maklerskie Pekao, BNP PARIBAS, CVC Capital Markets, Morgan Stanley and Pekao Investment Banking also acted as Joint Bookrunners. ING, mBank and Trigon acted as Co-Bookrunners.
  • The Retail Consortium in Poland, accepting subscriptions from Retail Investors, included PKO Securities, and brokerage houses of Alior Bank, BNP Bank Polska, Bank Handlowy, Millenium Bank, ING Bank Śląski, mBank, Pekao, BOŚ, BDM, Ipopema Securities, Noble Securities, Santander and Trigon.
  • GREENBERG TRAURIG Nowakowska-Zimoch Wysokiński sp.k., Freshfields Bruckhaus Deringer LLP and Elvinger Hoss Prussen société anonyme acted as Legal Counsel to the Company and the principal selling shareholder. Baker McKenzie Krzyżowski i Wspólnicy sp. k. and Allen Overy Shearman Sterling LLP acted as Legal Counsel to the Joint Bookrunners.
  • PwC Polska acted as the advisor to the Company and OC&C Strategy Consultants prepared market and industry reports for the purpose of the Prospectus.

Download full press release

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OMERS Infrastructure and DWS to acquire Italy’s Grandi Stazioni Retail

Omers Infrastructure

Grandi Stazioni Retail

August 6, 2024 – OMERS Infrastructure and an Infrastructure Investment fund managed and advised by DWS Group today announced that they have signed an agreement to acquire 100% of Grandi Stazioni Retail from Antin Infrastructure Partners, ICAMAP and Borletti Group.

Grandi Stazioni Retail manages the entirety of commercial and advertising spaces in 14 of Italy’s major railway stations and hubs for the high-speed rail network, which collectively receive over 800 million visits a year. The stations include over 800 commercial units, totaling around 190,000 Sqm of leasable space, and over 1,800 media assets.

The investment becomes OMERS first-ever in Italy, its 19th in Europe, and 14th transportation asset globally. DWS has a strong track record in rail transportation, including its investments in Akiem, Streem and Corelink, as well as in Italian infrastructure via its investments in Gruppo SAVE, Rimorchiatori Mediterranei and Ergéa.

Michael Hill, Executive Vice President and Global Head of Infrastructure, OMERS said: “We are delighted to be partnering with DWS to acquire Grandi Stazioni Retail. The acquisition is highly consistent with the OMERS Infrastructure strategy and will be an excellent complement to our world-class portfolio of infrastructure investments.”

Alastair Hall, Head of Europe, OMERS Infrastructure, said: “We’re delighted to acquire Grandi Stazioni Retail, which marks our entry into Italy and further expands OMERS presence in Europe. The investment presents us with an exciting opportunity to grow our exposure to the resilient and dynamic European rail sector. We are hugely impressed by Grandi Stazioni Retail’s management team, their commercial strategy and successful track-record of growth.”

Hamish Mackenzie, Global Head of Infrastructure at DWS, said: “This acquisition is a testament to our commitment to investing in high-quality infrastructure assets. Grandi Stazioni Retail offers a unique platform that aligns with our long-term vision for growth and providing essential services to the passengers and communities served by our portfolio companies, as well as a strong alignment with the key sustainability trend of reduction of transportation emissions, a theme supported by local and European policies. We are particularly impressed by the Grandi Stazioni Retail’s strategic direction and operational excellence of the management team, led by Alberto Baldan. We are excited to partner with OMERS and leverage our expertise and resources to further enhance the value of this asset and ensure it continues to serve as a vibrant travel hub for connectivity.”

The transaction is expected to be completed by the end of the year, subject to certain customary closing conditions and regulatory approvals.

 

Media contacts

OMERS James Thompson

Director of Communications

E: JaThompson@OMERS.com

T: +44(0)7443 264 154

 

DWS

Nick Bone

E: nick.bone@dws.com

T: +44 (0) 20 754 72603

About OMERS Infrastructure

OMERS Infrastructure manages infrastructure investments globally on behalf of OMERS, the defined benefit pension plan for municipal employees in the Province of Ontario, Canada, and third-party investors through its Strategic Partnership Program. OMERS Infrastructure manages approximately C$36 billion, including capital invested on behalf of OMERS and third parties, in approximately 30 investments located in North America, Western Europe, India and Australia, and across sectors including energy, digital and transportation. OMERS Infrastructure has employees in Toronto, New York, London, Amsterdam, Singapore and Sydney.

About DWS Group

DWS Group (DWS) with EUR 933bn of assets under management (as of 30 June 2024) aspires to be one of the world’s leading asset managers. Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.

We offer individuals and institutions access to our strong investment capabilities across all major liquid and illiquid asset classes as well as solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, giving strategic guidance to our investment approach.

DWS wants to innovate and shape the future of investing. We understand that, both as a corporate as well as a trusted advisor to our clients, we have a crucial role in helping to navigate the transition to a more sustainable future. With approximately 4,600 employees in offices all over the world, we are local while being one global team. We are committed to acting on behalf of our clients and investing with their best interests at heart so that they can reach their financial goals, no matter what the future holds. With our entrepreneurial, collaborative spirit, we work every day to deliver outstanding investment results, in both good and challenging times to build the best foundation for our clients’ financial future.

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Ardian signs exclusive agreement to acquire a stake in DIAM, to support a new phase of growth alongside management

Ardian

Ardian, a world-leading private investment house, today announced that it has entered into exclusive negotiations to acquire a majority stake in DIAM, a world leader in the Visual Merchandising and Shopfitting markets for the beauty and luxury sectors, alongside the management team, which would reinvest significantly, and BNP Paribas Développement.

After an initial successful collaboration with Ardian between 2016 and 2018, DIAM has since continued to grow and strengthen its geographical positions, supported by EMZ Partners and a consortium of investors including BNP Développement, Idia and Socadif. The group now employs over 3,200 people spread over 30 sites in 20 countries, supporting its customers on a local-to-local basis in Europe, Asia, Africa and the Americas. In 2023, DIAM’s sales exceeded 400 million euros, mainly in the Visual Merchandising, Shopfitting, Niche Packaging and Point of Sales’ Services segments. The Group’s recent growth has been driven by strong geographic expansion, the extension of its product range, and the close proximity to customers that lies at the heart of DIAM’s culture. Today, the Group is recognized as the sector’s front runner in terms of CSR commitments, working to implement key actions for beauty and luxury brands.

DIAM acts for its customers across the entire value chain, with an offer combining consulting, creative and technical design, engineering, production, delivery, installation, after-sales services and recycling.

For more than 50 years, DIAM has forged close relationships with leading groups such as L’Oréal, LVMH, Estée Lauder, Richemont, Shiseido, Chanel, Hermès and independent brands. To best meet their expectations, the Group has always focused on a dual understanding of the Groups and the distribution systems. In addition, DIAM is resolutely focused on building significant innovation and CSR benefits, notably from the angles of carbon reduction and with a  strong focus on the development of people and teams.

Ardian, which has known the DIAM Group for many years, will support the management team’s strategy of:
•    Reinforce CSR benefits and social commitment
•    Develop Visual Merchandising, Shopfitting, Niche Packaging, Connectivity and In-Store Services, through a number of organic initiatives and possible acquisitions
•    Develop all DIAM Group brands: Diam, Prugent, Field Flex, Fine Packaging Manufacturers, MR, Retail3D, Conex, B2D.

The completion of the transaction remains subject to the usual conditions precedent and the approval of the relevant regulatory authorities.

“The entire management team is delighted to welcome Ardian Expansion back into our capital. After going through the complex period of Covid, clarifying our core businesses, growing our teams and ensuring 4 years of strong development. DIAM has become much more balanced, both in terms of geographical distribution and in terms of broadening the offer and number of brands served, and more solid both in financial and extra-financial terms. We therefore need a leading shareholder to support a new phase of ambitious growth. Ardian will be a major asset for DIAM and our customers in this new phase of the Group’s development.” Françoise Raoul-Duval, President and CEO, DIAM

“We are delighted to once again support DIAM in this new phase of its development. The Group’s strong performance over the last few years demonstrates its leadership and ability to adapt to demanding market trends. We are convinced that this strategic partnership will enable DIAM to pursue its growth trajectory and assert its global leadership.” Arnaud Dufer, Head of Expansion France, Ardian

“DIAM, led by a tremendous management team, will target external growth in services and packaging. The Group’s ESG approach will continue to be a very strong marker of its strategy.” Alexis Lavaillote, Managing Director Expansion, Ardian

“Diam has a management team with exceptional leadership, with an entrepreneurial spirit and a deeply human dimension. We are delighted to have been at their side over the last few years.” Ajit Jayaratnam & Ludovic Bart, EMZ Partners

LIST OF PARTICIPANTS

  • PARTICIPANTS

    • DIAM GROUP: FRANÇOISE RAOUL-DUVAL, THIERRY CHETAILLE, LOUIS DUPÉRÉ, STÉPHANE MICHEL-GROSJEAN, MICHEL VAISSAIRE AND ALL THE TEAM MEMBERS
    • EXPANSION, ARDIAN: ARNAUD DUFER, ALEXIS LAVAILLOTE, STEVEN BARROIS, THOMAS GRÉTÉRÉ, VICTOR LESÉNÉCAL
    • BNP PARIBAS DÉVELOPPEMENT: DELPHINE LARRANDABURU, JEAN CHARLES MOULIN, JULIEN LEMAIRE
    • EMZ PARTNERS: THIERRY RAIFF, AJIT JAYARATNAM, LUDOVIC BART
    • IDIA: NICOLAS LAMBERT
    • SOCADIF: THIERRY ANTONINI

  • BUYER ADVISORS

    • M&A LAWYERS: PROSKAUER (MATTHIEU LAMPEL, BENJAMIN BENZAKINE, VANESSA HAMIANE)
    • FINANCING LAWYERS: PROSKAUER (MAUD MANON, PIERRE TARDIVO, ANTOINE COTTIN)
    • ANTITRUST LAWYERS: JOUVENSAL (KARIN-AMÉLIE JOUVENSAL) AND MARCK (GEORG SCHMITTMANN)
    • M&A LAWYERS – SELLERS: DE PARDIEU BROCAS MAFFEI (JEAN-FRANÇOIS POURDIEU, HUGUES DE FOUCHIER)
    • STRATEGIC DUE DILIGENCE: KEARNEY (JÉRÔME SOUIED, PIERRE-ALEXANDRE KOCH, HADI BENKIRANE, CHARLOTTE ROYER, ARTHUR LAVEST, VERA GAIDACH, DIMITRI IORDANOVITCH)
    • FINANCIAL DUE DILIGENCE: KPMG (OLIVIER BOUMENDIL, MEHDI CHAFAI EL ALAOUI, ANTOINE LAFFONT, MARIE HUEBER, SOUFIANE ROKNEDDINE)
    • LEGAL, TAX AND SOCIAL DUE DILIGENCE: KPMG AVOCATS (XAVIER HOUARD, FLORENCE OLIVIER, ALBANE EGLINGER, THOMAS CHARDENAL)
    • ESG DUE DILIGENCE: AXA CLIMATE (JULIEN FAMY, LAETITIA CANON)
    • INSURANCE DUE DILIGENCE: FINAXY (DÉBORAH HAUCHEMAILLE)

  • SELLERS, COMPANY AND MANAGEMENT ADVISORS

    • M&A ADVISORS: NATIXIS PARTNERS (BORIS PICCHIOTTINO, SIMON LE GUILLOU, MARTIN FREVAL, LÉA RAHAB, BAPTISTE ZURAWSKI)
    • FINANCING ADVISORS: NATIXIS PARTNERS (PHILIPPE CHARBONNIER, MARTIN CHALANSET)
    • MANAGEMENT ADVISORS: CALLISTO (VINCENT AYME, TANCREDE CAULLIEZ)
    • M&A LAWYERS: CLARIS AVOCAT (MANFRED NOÉ, PIERRE-ALEXIS MOREAU, MANON FORTIN, ANA MOLINA) / DE PARDIEU BROCAS MAFFEI (JEAN-FRANÇOIS POURDIEU)
    • STRATEGIC VENDOR DUE DILIGENCE: LEK (REMY OSSMANN, PHILIPPE GORGE)
    • FINANCIAL VENDOR DUE DILIGENCE: ALVAREZ & MARSAL (BENOIT BESTION, BAPTISTE RIDEAU, AYMERIC DE FOLLIN, GREGORY PEREIRA)
    • TAX VENDOR DUE DILIGENCE: ARSÈNE (ALEXANDRE ROCCHI)
    • ESG VENDOR DUE DILIGENCE: INDEFI (EMMANUEL PARMENTIER, CHARLOTTE SALMON, VICTOR LE MAROIS)

  • FINANCING

    • BANKING POOL: BNPP, SG, CIC, CADIF, LCL, EIFFEL, ALLIANZ, SPG, SCOR, ARTEMID, GROUPAMA, AMUNDI, CIC PD, BOI, LBP / LBP AM, ING, HSBC, SMBC
    • FINANCING LAWYERS : GIDE (ERIC CARTIER-MILLION, NATHALIE BENOIT)

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $166bn of assets on behalf of more than 1,650 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

ABOUT DIAM

Founded in 1973, the DIAM Group has become the global and local partner of beauty and luxury groups and brands, designing and supplying visual merchandising solutions, shopfitting, niche packaging, connectivity and in-store services. DIAM is present in 30 locations and 20 countries, and today employs more than 3,200 people, who are the core of our expertise, carrying a strong culture of entrepreneurship, agility and responsiveness.
In 2023, the group achieved sales of over €400 million, 70% of which in Merchandising, with significant growth (over 20%) on all continents and in all business lines (visual merchandising, shopfitting, packaging, services), thanks in particular to strong commitments and clear actions on CSR, in line with the Eco-design demands of its customers.
The DIAM Group is highly committed to environmental and social responsibility and has made its CSR approach a clear pillar of its strategy and employee retention assets.

www.diaminter.com

ABOUT BNP PARIBAS DEVELOPPEMENT

BNP Paribas Développement, an autonomous subsidiary of the international banking group BNP Paribas, is a limited company which, for over 30 years, has invested its own funds directly as a minority shareholder to support the development of successful SMEs & SMIs and ensure their long-term survival by facilitating their transfer. In addition to providing companies with stable financial resources, BNP Paribas Développement’s mission is to support the management team over the long term as it implements its medium-term strategic projects. Our position as a minority shareholder ensures that our partners benefit from appropriate governance without interference in day-to-day management, while benefiting from the strength of a recognized group and the experience of a partner with a portfolio of over 500 diversified holdings.

https://www.bnpparibasdeveloppement.com/

ABOUT EMZ

EMZ is a pan-European, independent investment company specializing in medium-sized companies. Since 1999, EMZ has contributed to the financing of more than 160 buyouts and expansion transactions (external growth, industrial investments, etc.) for a total invested amount of over 5 billion euros. EMZ’s investment strategy focuses on companies run by experienced management teams who are willing to enter into a collaborative, horizontal partnership with their financial partner.

emzpartners.com

MEDIA CONTACTS

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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TDR Capital to become majority owner of ASDA

Tdr Capital

We are pleased to announce that TDR Capital has agreed to acquire Zuber Issa’s shares in ASDA and will become the majority shareholder with 67.5% ownership. The transaction is expected to complete in Q3 2024.

TDR Capital invested in Asda alongside the Issa brothers, and together they took majority ownership of the business in June 2021. Since then, together with the other shareholders, TDR has supported Asda to accelerate its strategy, with a particular focus on delivering low prices to customers and expanding into the fast-growing convenience retail segment.

Gary Lindsay and Tom Mitchell, Managing Partners of TDR Capital, said: “We first invested into Asda over three years ago, seeing a huge opportunity to cement its position as one of the UK’s leading retail brands.”

“By combining our investment and sector expertise with Asda’s heritage of delivering value for customers, we have already made significant progress in transforming Asda. We have added a scale convenience business, grown Asda’s store footprint from 623 to 1,200 stores and food-to-go sites, and launched a hugely successful loyalty app, which now has six million active customers, accounting for around half of total sales. We remain focused on investing in Asda’s stores and online, as well as its colleagues through the highest pay in the traditional supermarket sector, to drive sustainable, long-term growth.”

“As majority owners, we will continue to work closely with the Asda management team and colleagues across the business to support its growth strategy, which we believe is the right one to continue to move Asda forward.”

Learn more about our investment in ASDA.

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Ratos Company HL Display to acquire pr trading-Flekota A/S

Ratos

HL Display (HL) has signed an agreement to acquire pr trading-Flekota A/S (pr trading), its distribution partner in Denmark. This acquisition will expand HL’s footprint in Europe and further strengthen its position as a leading supplier for in-store merchandising and communication solutions to grocery and non-food retailers in Europe.

pr trading (founded in 1968) has a long and successful history as a trusted supplier of standard and custom-made display and in-store solutions to Danish grocery retail as well as non-food retailers and brand suppliers. Building on a shared ambition to create attractive and profitable in-store environments, the company has been a distribution partner of HL since the 1970s. pr trading today has 38 employees and a turnover of 160 MDKK, with a track record of strong growth.

“HL’s profitable growth journey continues at a steady pace and is characterized by underlying good organic growth combined with a high acquisition rate of fine companies, precisely the type of deals that have great industrial synergies. Add-on acquisitions of this type are highly value-creating and an important part of Ratios’ strategy. With the acquisition of pr trading, HL is taking yet another important step,” says Anders Slettengren, Chairman of the Board of HL Display and Executive Vice President, Ratos.

“I’m delighted to announce our intention to acquire pr trading,” says Björn Borgman, CEO of HL Display. “The company has been an essential partner to HL for more than 50 years and given the expertise and strong position in Danish retail, pr trading is a natural fit for HL. This acquisition is the logical next step on our journey to be the leading supplier for in-store merchandising and communication solutions in Europe.”

The completion of the acquisition is subject to customary closing conditions, including approval by competition authorities, which is expected to be obtained during the first quarter of 2024.

About HL Display
HL is a global leader in in-store merchandising and communication solutions, helping customers to create a better shopping experience around the world. Founded in 1954, HL today is present in more than 70 countries and solutions can be found in 330,000 stores, supporting customers to grow sales, inspire shoppers, drive automation, and reduce waste. The three customer segments are retail food, branded good suppliers and non-food retail.

The HL Display Group has its headquarters in Stockholm, Sweden, and sales offices in 23 countries covering 39 markets as well as distribution partners covering the remaining markets globally. The eight production facilities are located in Sweden, Poland, Germany, the UK, and China and handle a variety of industrial processes, including plastics and metal fabrication, printing and assembly.
The company has 1,300 employees and net sales of approximately 2,000 MSEK.

For more information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21
Björn Borgman, CEO HL Display, +46 72 264 17 90

About Ratos
Ratos is a business group consisting of 17 companies divided into three business areas: Construction & Services, Consumer and Industry. The companies have approximately SEK 34 billion in net sales (LTM). Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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Torqx Capital Partners declares offer for Beter Bed Holding unconditional; 95.14% of Shares now tendered or committed

Torqx Capital

Torqx declares the public offer on Beter Bed Holding unconditional per 29 November 2023; in total 95.14% of the Shares are offered or committed, of which 44.33% of the shares are irrevocably committed by the co-investors.

Settlement of the Offer will take place on Friday 1 December 2023. Payment of the Offer Price for each Tendered and Delivered Share shall be made on the same date. Shares which are not tendered yet can be tendered during the Post-Acceptance Period, commencing on 30 November 2023 and ending on 6 December 2023.

Information about the offer and how you can tender your shares can be found at:  www.beterbedholding.com/public-offer/.

For further information, see also the press release about the offer being declared unconditional:

Link to press release

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Aurelius acquires iconic global beauty brand and retailer The Body Shop

Aurelius Capital
  • Opportunity to re-energise an iconic global beauty and personal care brand with impressive consumer recognition
  • Trailblazer which has set the standard for beauty brands in minimising environmental impact, maximising social benefits and ensuring animal welfare
  • AURELIUS’ operational taskforce to partner with the highly experienced management team to optimise operations and develop the offering across channels

Luxembourg/Munich, November 14, 2023 – AURELIUS announces the acquisition of The Body Shop International Limited (The Body Shop) from Natura & Co S.A (NYSE – NTCO; B3 – NTCO3). The iconic global beauty brand is renowned for its heritage in cruelty-free and ethical beauty products. It is an omni-channel retailer with its own stores, e-commerce sites, international franchises and wholesale customers. The transaction is expected to close in December 2023, subject to approval by the relevant competition and regulatory authorities. The purchase agreement values The Body Shop at £207m, including an earn-out of £90m, subject to certain conditions.

The Body Shop, which is headquartered in London and employs c. 7,000 staff, has operations in 89 markets with over 900 company-owned stores in 20 countries and partnerships with head franchisees who operate c. 1,600 franchised stores in a further 69 geographies. The brand’s product portfolio comprises natural ingredient-based bath & body, skin care, fragrance, hair care, make-up and gifting. The Body Shop has been B-Corp certified since 2019, further demonstrating its leadership in ethical sourcing, sustainability, and social consciousness.

As experts in complex transactions, with a strong focus on driving operational improvements, AURELIUS will work with the management team to drive operational excellence across the group, leveraging its expertise and experience in the omni-channel retail and wholesale markets. This, combined with The Body Shop’s iconic brand and heritage in socially responsible products, means that despite the challenging retail market there is an opportunity to re-energise the business to enable it to take advantage of positive trends in the high-growth beauty market.

In recent years, AURELIUS has completed many complex corporate carve-outs across Europe, including the acquisitions of renowned brands such as Footasylum from JD Sports and LSG Sky Chefs (LSG Group) from Deutsche Lufthansa AG.

“We are delighted to be undertaking this acquisition of an iconic British brand, which pioneered the cruelty-free and natural ingredient movement in the health and beauty market. We look forward to working with CEO Ian Bickley and his team to drive operational improvements and re-energise the business, and help to deliver the next chapter of success”, comments Tristan Nagler, Partner at AURELIUS.

Ian Bickley, CEO of The Body Shop, added, “Today, we celebrate a truly historic moment for The Body Shop as we join forces with Aurelius to begin a new chapter, allowing us to continue building the relevancy of this global brand for future generations. With a presence in over 80 countries, The Body Shop is not only a beauty brand, but also an iconic social business that has captured hearts in nearly every corner of the world. We are deeply grateful to Natura &Co for their unwavering support and I’m looking forward to working hand in hand with Aurelius as we adapt and flourish in new global retail environments, always with an eye on sustainable and profitable growth.”

The Body Shop was founded in 1976 by Anita Roddick, with a small shop in Brighton/UK. At the heart of her vision stood an ethical approach to business, a purpose that was trail-blazing at the time and remains highly relevant today. The Body Shop does not test its products on animals and strives to work fairly with farmers and suppliers. By following this approach to business, The Body Shop has been a pioneer in corporate social responsibility.

For further information contact:

AURELIUS
Humza Vanderman / Methuselah Tanyanyiwa
Dentons Global Advisors
Aurelius@dentonsglobaladvisors.com
Tel: +44 (0)7824 472501

Natura &Co
Emilia Lebron
Head of External Communications
+44 (0) 7580 816371
Emilia.lebron@avon.com

Brunswick Group
São Paulo + 55 11 3076 7620
London + 44 020 7404 5959
natura@brunswickgroup.com

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Iconic Apparel Brands Ann Taylor, LOFT and Talbots Come Together as KnitWell Group

Sycamore
August 30, 2023

NEW YORK, NY (August 30, 2023) Sycamore Partners, a private equity firm specializing in consumer, distribution, and retail-related investments, today announced the formation of KnitWell Group (“KnitWell”), a new holding company comprising industry-leading apparel brands Ann Taylor, LOFT, and Talbots. Together, these brands generate more than $3 billion in annual sales. The Company will also continue to provide oversight and shared services to Lane Bryant, a leading plus-size women’s apparel brand. Together, these brands position KnitWell as one of the largest specialty apparel companies in the United States.

KnitWell’s name reflects the Company’s core belief that each strong brand is distinctive, but when put together they are a powerhouse retail organization dedicated to meeting customers where they are in their journey.

Lizanne Kindler, current Chief Executive Officer of Talbots, will lead KnitWell Group as Executive Chair and Chief Executive Officer. She is joined in the Office of the Executive Chair by a seasoned team of retail executives, and further supported by senior leaders at each of the brands – all of whom are dedicated to the unique needs of their customers.

“KnitWell is a collection of powerful brands that, in aggregate, have been providing customers with the fashions they want for nearly 300 years,” said Ms. Kindler. “Brands are propelled by a deep and meaningful connection with the customers they serve, and that is where we start and end each day. With that as our North Star, we know that this new structure will support our efforts to unite brands and people by providing greater resources and capabilities, economies of scale, and enhanced value. We are excited about the opportunities ahead and grateful for our more than 30,000 associates for being part of this next chapter.”

Stefan Kaluzny, Managing Director of Sycamore Partners, added, “Lizanne and the team have done an incredible job over the last decade reviving and growing these iconic American brands, first Talbots and most recently Ann Taylor and LOFT. The consistent and focused approach, which  leverages the replicable playbook this team has developed, is laying the foundation of success not only for the brands currently part of the KnitWell portfolio, but also for potential future brands. We look forward to our continued partnership with Lizanne and the entire team.”

Contacts

Sycamore Partners

Michael Freitag or Arielle Rothstein
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
media@sycamorepartners.com

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Ratos Company HL Display to acquire Akriform

Ratos

HL Display (HL) has signed an agreement to acquire Akriform Plast AB (Akriform), a producer of bulk bins and custom-made solutions for grocery retail and branded goods suppliers. The acquisition will strengthen HL’s leading position in Europe in the fast-growing segment of packaging-free merchandising and create a strong offer of custom-made solutions for customers in the Nordic markets.

Founded in 1980, Akriform has built a strong position as an expert in the production of bulk merchandising and custom-made solutions, providing high quality products to their customers. The company is based in Sollentuna, Sweden and has annual sales of 80 MSEK.

“HL Display’s successful growth journey continues. The acquisition of Akriform is completely in line with Ratos’ acquisition strategy where additional acquisitions in existing companies are an important part, and is another statement of strength in HL Display,” says Anders Slettengren, Chairman of the Board of HL Display and Executive Vice President, Ratos.

“Akriform has built an impressive reputation as a producer of custom-made retail solutions, thanks to a team of experts in design, development and production. The product portfolio is especially strong in the fast-growing segment of packaging-free merchandising where HL see increasing demand from both retailers, branded goods suppliers and shoppers across Europe. The merged product ranges will create a strong offer for our customers, supporting our position as the leading supplier of in-store communication and merchandising solutions for the grocery industry,” says Björn Borgman, CEO, HL Display.

The acquisition will be completed on 1 March 2023.

About HL Display
HL is a global leader in in-store merchandising and communication solutions, helping customers to create a better shopping experience around the world. Founded in 1954, HL today is present in more than 70 countries and solutions can be found in 330,000 stores, supporting customers to grow sales, inspire shoppers, drive automation, and reduce waste. The three customer segments are retail food, branded good suppliers and non-food retail.

The HL Display Group has its headquarters in Stockholm, Sweden and sales offices in 23 countries covering 39 markets as well as distribution partners covering the remaining markets globally. The five production facilities are located in Sweden, Poland, the UK and China and handle a variety of industrial processes, including plastics and metal fabrication, printing and assembly.The company has 1,100 employees and net sales of 1,900 MSEK. HL is a wholly owned subsidiary of the listed Swedish Business Group Ratos.

For more information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21
Björn Borgman, CEO, HL Display, +46 72 264 17 90

About Ratos
Ratos is a business group consisting of 16 companies divided into three business areas: Construction & Services, Consumer and Industry. The companies have approximately SEK 32 billion in net sales (LTM). Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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Carlyle provides c. £370m in debt financing for Caffè Nero

London, UK – 17 January 2022 – Global investment firm Carlyle (NASDAQ: CG) today announced that its Global Credit platform has provided a debt financing package of c. £370 million to support the refinancing and future growth of The Caffè Nero Group (the “Group”), a leading operator of premium coffee shops.

Founded over 20 years ago by Gerry Ford, who remains CEO today, The Caffè Nero Group operates four premium coffee house brands: Caffè Nero, Coffee #1, Harris + Hoole, and Aroma. The Group has over 1,000 stores across 10 countries, of which c. 750 are based in the UK, and employs more than 7,700 people, with over 5,600 of these individuals based in the UK.

As a result of this transaction, the Group has reduced its debt exposure while strengthening the company’s balance sheet and providing it with additional funds to support its growth plans. The ownership structure of the Group remains unchanged, with the majority shareholding remaining with Gerry Ford and his family and friends.

Gerry Ford, Founder & CEO of The Caffè Nero Group, said: “Our new capital structure will allow us to focus on future growth, and I very much look forward to working with Carlyle as we leverage their financial and strategic expertise to take the Caffè Nero brand to new heights.”

Taj Sidhu, Head of European Illiquid Credit at Carlyle, said: “We look forward to supporting Caffè Nero Founder & CEO Gerry Ford and his team in their next phase of growth. This transaction is a great example of Carlyle’s flexible capital and track record in privately negotiating capital solutions for founders and entrepreneurs.”

Merrill Goulding, a Managing Director in Carlyle’s Illiquid Credit platform, said: “We are delighted to partner with Caffè Nero, a much-loved high street brand thanks to its reputation for providing high-quality, premium coffee over several decades. We are excited to support the many growth opportunities that lie ahead for the company as it continues to capitalise on its competitive offering and market-leading positioning.”

Within Carlyle’s $66 billion Global Credit platform, its Illiquid Credit business pursues investments in privately negotiated capital solutions primarily for upper middle market borrowers, including both private equity sponsored and family or entrepreneur-owned companies.

ENDS

 

Media Contact:

Andrew Kenny
andrew.kenny@carlyle.com
+44 7816 176120

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $293 billion of assets under management as of September 30, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 26 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

 

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