Tag Archives: Retail

EQT Credit provides financing to support Lion Capital’s investment in sports nutrition brand Grenade

eqt

EQT Credit announced today that it has provided an innovative and tailored financing solution to support Lion Capital’s investment in Grenade Holdings Limited (“Grenade” or the “Company”), a leading active nutrition brand based in the UK.

Grenade is a fast-growing international active nutrition company and lifestyle brand based in Solihull, UK. The Company was founded in 2010 by husband-and-wife team Alan and Juliet Barratt, following which it has grown at exceptional speed. Grenade’s success has made it one of the UK’s fastest growing companies. The Sunday Times has included Grenade in its Fast Track Top 100 for the past three years running and in February 2017, it was listed at number 40 in The Sunday Times’s SME Export Tracker.

In March 2017, Lion Capital, a consumer-focused private equity firm known for its experience investing in leading international brands, acquired a majority stake in Grenade. The transaction valued the business at GBP 72 million, with Grenade’s founders Alan and Juliet Barratt remaining meaningful shareholders and key managers of the business.

Andrew Konopelski, Partner and Head of EQT Partners’ Credit team, Investment Advisor to EQT Credit, commented: “Grenade has achieved phenomenal growth since its founding in 2010, driven by its strong brand and unique product offering. We are delighted to support Lion Capital, Alan and Juliet Barratt and management as they embark on the next phase of Grenade’s expansion.”

Alan Barratt, Co-founder and CEO of Grenade, also commented “It is an absolute honour to be partnering with EQT in addition to the recent Lion acquisition, considering Grenade is still such a young brand. The next few years promise to be extremely exciting as we develop our global lifestyle brand, and the experience and networks that EQT can bring will add significant value I’m sure.”

Terms of the transaction were not disclosed.

Contacts:
Andrew Konopelski, Partner and Head of EQT Partners’ Credit team, +44 20 7430 5525
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a leading alternative investments firm with approximately EUR 37 billion in raised capital across 24 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

The EQT Credit platform, which spans the full risk-reward spectrum investing with three strategies: senior debt, direct lending and credit opportunities, has invested over EUR 3.6 billion in more than 136 companies since inception in 2008.

For more information: www.eqtpartners.com/Investment-Strategies/Credit

About Lion Capital
Lion Capital is a consumer-focused investor passionate about driving growth through strong brands. With offices in Los Angeles and London, the firm’s principals have led the investment of EUR 6 billion in more than 30 businesses and more than 100 consumer brands across North America and Europe. Lion’s focus on market-leading consumer-facing companies has led to investments in such well-known brands as Kettle Foods, Jimmy Choo, ghd and AllSaints.

For more information: www.lioncapital.com

About Grenade
Grenade is an innovative British company which has grown rapidly since its launch in 2010. Now selling Grenade products in over 100 countries, the brand has a huge following, spanning professional athletes, fitness enthusiasts and health-conscious consumers worldwide. Grenade exhibits at the largest fitness exhibitions in the world and has a number of industry-leading products in major convenience stores and supermarkets. Supported by its ‘Team Grenade’ athletes Grenade is renowned for its highly distinctive branding and marketing strategies.

For more information: www.grenade.com

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Atlas For Men refinances its debt one year after its spin-off

Activa Capital

Paris, 12 September 2017 – Atlas for Men, the men’s outdoor clothing brand that became independent from Groupe De Agostini a year ago, following a spin-off organized by Activa Capital and the Management team, has refinanced its existing debt alongside an extended pool of banks, allowing the full reimbursement of the mezzanine debt and partial reimbursement of the shareholder funds.

Founded in 1999 within the Groupe De Agostini, Atlas for Men is a specialized men’s outdoor brand for clothing and accessories, sold online and by catalogue. The brand is present in 10 European countries and generates close to €160m in sales from 6 million clients.

In August 2016, Altas for Men organized a spin-off from De Agostini led by Activa Capital alongside the Management team, accompanied by Initiative & Finance and Indigo Capital.

During the past twelve months the company has become totally independent and successfully completed all the projects linked to the spin-off, as well as successfully implementing many of its growth initiatives. Atlas for Men continues its strong development strategy in Germany with a growth exceeding 20% per annum, while accelerating its e-commerce deployment via its commercial website (www.atlasformen.fr) and its marketplace. The year 2016 also marked Atlas for Men’s entry into the Czech Republic, which became the tenth country served by the Group.

Based on solid results and strong growth momentum, the company refinanced the mezzanine debt initially provided by Indigo Capital and partially reimbursed the shareholder funds.

The new financing is provided by the banking pool set up in 2016 (arranger: CIC Nord Ouest, participants: BNP Paribas and Crédit Agricole Seine-Normandie), joined by Caisse d’Epargne Normandie.

For Marc Delamarre, President of Atlas for Men:

This refinancing reflects Atlas for Men’s strong growth momentum driven by the team’s commitment and the relevance of our positioning as a specialist brand. The renewed commitment of our banking partners allows us to consider more development projects, both digitally and internationally.

For Pierre Chabaud, Partner at Activa Capital:

This operation carried out with Atlas for Men’s banks one year after the spin-off, reflects the operational know-how of the management team and the company’s dynamism in its market. Atlas for Men is now in an even better position to implement its growth ambitions.

About Atlas for Men

Atlas for Men is specialized in men’s outdoor clothing and accessories distance selling. Since its creation in 1999, the company has witnessed a steady growth and achieved a turnover of more than €150m in 2016 in 10 European countries. Currently a leader in the distance selling market, Atlas for Men is also a major internet player with 9 e-commerce websites.

Learn more about Atlas for Men atlasofrmen.fr.

 

About Activa Capital

Activa Capital is a leading French mid-market private equity firm. Activa Capital manages over €500m of private equity funds on behalf of a wide range of institutional investors. Activa Capital partners with ambitious mid-sized French companies, valued at €20m to €200m, seeking to accelerate their growth and their international footprint. Learn more about Activa Capital at activacapital.com.

 

 

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Bricoprivé acquires Racetools

Ardian

Bricoprivé is 12 months ahead of schedule in reaching the ambitious target of €100 million in gross revenues per annum

Toulouse, 4 September 2017 – Bricoprivé, the leading website specialising in flash sales of DIY, gardening and home improvement products, today announces the acquisition of Racetools, a specialist distributor of portable electric tools to professionals. The deal was completed with the support of Bricoprivé’s minority shareholder, Ardian, the independent private investment company.

Founded in Nîmes in 2012, Racetools has established itself as the leader in portable electric tools for professionals. The company owns a major retail outlet and a 1000m² space dedicated to shipping, as well as an after-sales service counter. Over the last five years, the company has successfully formed partnerships with the largest professional tool brands across France, which has contributed to its strong growth and leading market position.

Bricoprivé.com offers a wide range of professional quality products at competitive discount prices. Since its founding in 2012, the Toulouse-based company has experienced rapid and profitable growth, with a gross revenues of more than €75 million in the last 12 months.

Over the last few years, Bricoprivé has established itself in France and southern Europe as the leader in flash sales among consumers and DIY sector customers. In line with its external growth strategy, this acquisition will strengthen its leading position in the power tool segment by giving it a foothold in the professional market.

Julien Boue, co-founder of Bricoprivé, said: “The relationship with leading brands in our sector is the fundamental pillar of Bricoprivé’s strategy. These partnerships provide access to exclusive offers in return for the media exposure and turnover we offer the brands. Racetools’ success in forging strong partnerships with professional brands which complement Bricoprivé’s existing partners was a major deciding factor for us.”

Nicolas Leron, founder of Racetools, added: “The merger with Bricoprivé takes Racetools to a new dimension. As well as expanding reach into two new countries, Spain and Italy, Bricoprivé’s infrastructure and logistical expertise will enable us to accelerate our growth and reinforce our range of products and services.”

Marc Leverger, co-founder of Bricoprivé, added: “This acquisition means we are 12 months ahead of schedule in reaching the ambitious target of €100 million in gross revenues per annum. This is crucial, since we believe that rapid development is vital to success online. The Racetools product offering complements ours well, particularly due to the company’s exposure to the professional power tool market. The technical knowledge of the Racetools teams, both in terms of products and after-sales service, will enable us to progress the business to the next level.

Furthermore, we will now have a physical retail outlet for the first time, and from the autumn, will be able to offer our partner brands access to new distribution channel.”

Romain Chuidini, Senior Investment Manager at Ardian Growth added: “This acquisition is the next step in Bricoprivé’s development. After strong organic growth and international expansion in southern Europe, the company is continuing its expansion via an active external growth strategy. This reflects the ambition expressed when we first acquired a stake in Bricoprivé of becoming the European leader in online DIY distribution.”

ABOUT BRICOPRIVÉ

Founded in October 2012 in Toulouse and managed by Julien Boue and Marc Leverger, Bricoprive.com is the leading website for flash sales of DIY, gardening and home improvement products. A major e-commerce player in the DIY sector in France, Bricoprivé organises private sales, of the main brands in the sector (Grohe, Bosch Legrand, Ryobi and Dewalt) for its five million members.

With the brands’ agreement, Bricoprivé holds nine to 10 flash sales each day of surplus stock and end-of-life products. Considered as a sales platform (three logistics platforms in France covering the entire country), the website is also an excellent communications platform for brands with its community of highly targeted members. After five years of strong growth, more than €75 million in gross revenues over the 12 last months and the recruitment of 130 staff, Bricoprivé is entering a new phase in its development with this new acquisition.

www.bricoprive.com

ABOUT RACETOOLS

Founded in June 2012 and managed by Nicolas Leron, Racetools has established itself as the leader in portable electric tools for professionals. Based in Nîmes, the company has a retail outlet and a 1000m² space dedicated to shipping as well as an after-sales service counter. After five years of steady development, Racetools is merging entirely into Bricoprivé.

www.racetools.fr/

ABOUT ARDIAN

Ardian, founded in 1996 and led by Dominique Senequier, is an independent private investment company with assets of US$62 billion managed or advised in Europe, North America and Asia. The company, which is majority-owned by its employees, keeps entrepreneurship at its heart and delivers investment performance to its global investors while fuelling growth in economies across the world. Ardian’s investment process embodies three values: excellence, loyalty and entrepreneurship.

Ardian maintains a truly global network, with more than 470 employees working through twelve offices in Beijing, Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, New York, Paris, San Francisco, Singapore and Zurich. The company offers its 580 investors a diversified choice of funds covering the full range of asset classes, including Ardian Funds of Funds (primary, early secondary and secondary), Ardian Private Debt, Ardian North America Direct Buyout, Direct Funds (Ardian Mid Cap Buyout, Ardian Expansion, Ardian Growth, Ardian Co-Investment), Ardian Infrastructure, Ardian Real Estate and customized mandate solutions with Ardian Mandates.

www.ardian.com

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Sunrise Capital II invests in El Dorado Group

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Tokyo ,Wednesday 21 June, 2017

– CLSA Capital Partners, the alternative asset management arm of CLSA, is pleased to announce the investment by Sunrise Capital II (“Sunrise II”) into Japan-headquartered El Dorado Ltd, Lcode Ltd, and Hong Kong-headquartered CANDY MAGIC International Limited (collectively the “El Dorado Group”), a group of companies specialising in the design, manufacture and sales of beauty contact lenses. Sunrise II is a CLSA Capital Partners’ fund that invests in established, mid -cap companies withstrong growth potential in Japan.

 

Since its establishment in 2007, the El Dorado Group has been credited with pioneering the Japanese beauty contact lenses industry and has played an iconic role in promoting the use of beauty contact lenses as a new style of “eye make-up”.

The El Dorado Group manages multiple brands such as “Candy Magic” and “ReVIA” which are positioned to accommodate the various fashion needs and styles of their consumers and are highly popular among all age groups of female users. The El Dorado Group established a Hong Kong presence in 2015 to pursue further growth through Asian expansion , mainly targeting Hong Kong and Mainland China.

Upon investment, Sunrise II and the El Dorado Group’s founder and major shareholder, Mr. Tomohiro Fujiwara, will jointly establish an SPC , CM Holdings Ltd. Following the transaction, the companies affiliated to the El Dorado Group will become 100% subsidiaries of CM Holdings Ltd. The El Dorado Group will retain the existing management team, company names, brand names and does not anticipate material changes in the business’ operations. Sunrise II will work closely with the El Dorado Group’s management team as a strategic partner to jointly pursue further growth both domestically and overseas.

About the El Dorado Group

The El Dorado Group specialises in the design, manufacture and sales of beauty contact lenses and related products. El Dorado Ltd is responsible for the design, manufacture and OEM contract manufacturing of the El Dorado Group’s products, Lcode Ltd handles the domestic sales of products and CANDY MAGIC International Limited handles the sales of products within the Asian region (ex-Japan), mainly within Hong Kong and Mainland China. The core beauty contact lenses business operates six main brands including “Candy Magic” and “ReVIA”, and distributes its products at nationwide beauty contact specialised stores, drug stores, discount stores and general merchandise stores in addition to distributing through various e-commerce channels.

About Sunrise Capital

Sunrise Capital is a Japan-dedicated private equity strategy, capitalising on opportunities in the mid-cap buyout sector. Sunrise Capital’s unique features include a hands -on approach, in assisting portfolio companies realise their growth potential, and support with overseas expansion through CLSA’s global network. Including the El Dorado Group, Sunrise Capital has completed investments in 11 companies since its establishment in 2006.

 

About CLSA Capital Partners

CLSA Capital Partners is the alternative asset management arm of CLSA, Asia’s leading and longest –running brokerage and investment group. CLSA Capital Partners has more than US$3 billion under management and offices

across the region, including Hong Kong, Singapore and Tokyo. CLSA Capital Partners offers a diversified and increasing range of investment strategies managed by a diverse team of industry professionals with expertise in private equity, banking and finance, law and accountancy and various industry specialisations. For more information visit www.clsacapital.com

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Unison Capital acquires DINAMIX

Unison Capital

It is with great pleasure to announce that on June 1, 2017, Unison Capital Partners IV, LPS and Unison Capital Partners IV(F), L.P. (collectively, “Unison”) have acquired DINAMIX Co., Ltd. (“DINAMIX”).

DINAMIX operates 105 izakayas (Japanese-style bar and restaurant) under some 30 brands, mainly in bustling shopping and entertainment districts. Within the izakaya industry, characterized by a shrinking market due to demographic changes and intensifying competition, DINAMIX has achieved robust growth offering great value for money to customers.

In collaboration with the founder of the business, Unison aims to accelerate the growth of the unique multibrand restaurant operator by offering management resources and capital.

Unison Capital, Inc

Contact
Please direct all inquiries concerning this matter to:
Public Relations
Tel: +81-3-3511-3900

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Ferd invests in fast-growing e-commerce company Boozt

boozt_summer17_w

Ferd has taken a new stake in e-commerce. Boozt AB has today completed an initial public offering (IPO) of its shares on Nasdaq Stockholm. Ferd participated in Boozt’s IPO as a cornerstone investor, which means that prior to the IPO process Ferd guaranteed it would subscribe for SEK 200 million. As a result of this investment commitment Ferd now has a 5.8% ownership interest in the company. This is the first time Ferd has participated as a cornerstone investor in an IPO.

Boozt is a leading and fast-growing Nordic e-tailer that sells fashionable clothes online. The company offers its customers a wide range of well-known brands in the mid to premium segment through Boozt.com, an online-based multi-brand store. Well-known brands include Ralph Lauren, Gant, Eton, Ganni etc.

Boozt has a strong position in the online apparel market. The company’s online store has up to five million visits every month and over 860,000 active customers. Boozt.com is aimed at Nordic customers, primarily fashion-conscious women and men aged 25 – 54. Its customers value a convenient shopping experience combined with a high level of customer service, including a consistent user experience across digital platforms, short delivery times and easy returns.

The company’s headquarters is located in Malmö in Sweden, and at the start of 2017 it had 193 employees from 25 countries. The company’s in-house developed IT platform enables the company to manage the customer experience optimally. Handling and distribution is carried out at the automated AutoStore warehouse in Ängelholm with the assistance of 130 AutoStore robots, which enables the company to offer next-day delivery across most of the Nordic region.

Boozt has achieved strong historical growth of approximately 70 % CAGR over the last two years (2014-2016), and generated a positive operating profit in 2016.

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Accent Equity divests Akademibokhandeln to Volati

VolatiAB (publ) has signed an agreement to acquire the shares in Akademibokhandeln Holding AB(publ)
from Accent Equity 2012 (71.7%), J.P. Killberg handelsaktiebolag (11.1%), Stiftelsen Bokförlaget Natur &Kultur (11.1%) and Krasse & Co AB (1.0%). Akademibokhandeln’s management will remain as shareholders alongside Volati.
Akademibokhandeln is the market leading book retailer in Sweden with a market share of about 35% of
consumer book retailing and has a strong offering for all product and delivery formats. With 108 stores
nationwide, 80 under its own management and 28 run as franchises, together with online sales under the
Akademibokhandeln and Bokus brands, the company operates modern and profitablesales channels
focused on consumers, companies and public sector operations. Akademibokhandeln has a growing
customer club that currently comprises more than 1.3 million members.
For 2016, the AkademibokhandelnGroup’s net sales amounted to SEK 1.8 billion and EBITDA to SEK 125 million.
“In our time as owner, the management has strengthened Akademibokhandeln’s offering, position and
profitability in a highly professional manner,” says Martin Tisell, Chairman at Akademi bokhandeln and
Partner at Accent Equity Partners AB, investment advisor to Accent Equity 2012.
“
We view Volati as a competent industrial group that will be a good, long-term ownerfor the company.”
“We have built a business that now has an extremely strong offering in all the channels through which our
customers want to purchase books and related products,”comments Maria Hamrefors, Akademibok-
handeln’s CEO.“
We look forward to being part of the Volati Group and having Volati as a long-term owner that I believe can contribute knowhow and support in developing operations moving forward.”
Volati was founded in 2003, and today comprises some 40 operating companies divided into 12 business
units organized in three business areas: Trading, Consumer and Industry. Volati has operations in 16
countries, with a total of around 1,200 employees and annual sales of approximately SEK 3 billion.
“We are extremely pleased and proud to be able to acquire Akademibokhandeln,” says Mårten Andersson,Volati’s CEO.
“
The book retailer is a well-run and profitable group with strong cash flows and an extremely well-established market position. Together with management, we will nurture these customer relations by continuing to develop the company’s offering through all channels.”
Completion is planned for July 2017. The change of ownership will not mean any
changes for the around 500 employees or the franchisees who operate 28 of the stores.
The acquisition is conditional on approvalfrom the SwedishCompetition Authority.
For further information, please contact:
Martin Tisell, Chairman of Akademibokhandeln Holding AB (publ),
+46 70 877 65 20, martin.tisell@accentequity.se.
Maria Hamrefors, CEO Akademibokhandeln Holding AB (publ), +46 70-601 92 05, maria.hamrefors@akademibokhandeln.se
Mårten Andersson, CEO of Volati AB, +4672735 42 84,marten.andersson@volati.se

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3i to invest €120m in Lampenwelt to support international expansion

3I

3i Group plc (“3i”) today announces that it has agreed to invest €120m in Lampenwelt, the largest European online specialist in the lighting space. 3i will invest alongside management and one of the current owners of the business, Walter Neumüller. In addition, 3i will provide a short term refinancing loan to Lampenwelt of €54 million which is expected to be refinanced shortly after completion.

Founded in 2004 by Thomas Rebmann and his brother Andreas Rebmann, Lampenwelt is the #1 specialty online retailer of lighting products in Europe. The company is headquartered in Schlitz near Frankfurt am Main, Germany. From there, it distributes own-brand and 3rd party products to customers in 12 countries across Europe. Following the transaction, the company will retain its global headquarters in Schlitz and will continue with its plans to open a new warehouse in Schlitz in the coming months.

Lampenwelt differentiates itself from its competitors through an extensive range of over 45,000 products, in-depth product knowledge, excellent customer service and high product availability. The company generated €61m of sales in 2016, of which 45% came from outside Germany, and has grown strongly in Germany and through a steady roll-out across Europe in recent years.

3i has been following Lampenwelt’s successful growth for several years and during 2016 approached the company to discuss a potential investment in the business. 3i was therefore able to undertake its diligence outside of a formal sale process, with full access to the business and senior management. Lampenwelt’s growth plans fit well with 3i’s strategy of supporting mid-sized companies to grow internationally.

Peter Wirtz, Managing Director, 3i Germany, commented:
“We are investing in a successful company with strong growth potential. We believe there are significant opportunities for Lampenwelt to further expand internationally and build on its best-in-class digital and online marketing capabilities. We are looking forward to working with the excellent management team to realise these ambitions.”

Thomas Rebmann, CEO of Lampenwelt, added:
“We are delighted to be partnering with 3i for the next stage in our growth story. 3i has extensive experience in the consumer sector and an impressive network which will help us enlarge our footprint in Europe.”

Walter Neumüller, current co-owner of Lampenwelt, commented:
“As the owners of Lampenwelt, we originally had an investment horizon beyond 2020. However, after its direct approach, 3i convinced us that as an experienced investor they would be able to strongly support Lampenwelt in its ongoing internationalisation efforts. There is a strong cultural fit between Lampenwelt and 3i and I am glad to be able to guarantee continuity both as a co-shareholder and as a member of the Lampenwelt Board also going forward.”

Jochen Wilms, a seasoned expert in both the building supply and online industries with prior experience at Bertelsmann, Schüco and Grohe, will join the board as Executive Chairman and co-invest alongside 3i and management. Thomas and Andreas Rebmann will continue in their roles as CEO and COO respectively.

The transaction is subject to customary and anti-trust approvals.

-Ends-

For further information, contact:

3i Group plc
Silvia Santoro
Investor enquiries
Tel: +44 20 7975 3258
Email: silvia.santoro@3i.com

Kathryn van der Kroft
Media enquiries
Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

Notes to editors:

About Lampenwelt

Lampenwelt is the largest specialty online retailer of lighting products in Europe. Headquartered in Schlitz near Frankfurt am Main, the company generated €61m sales with around 240 employees in 2016. Lampenwelt is led by the brothers Thomas and Andreas Rebmann, who founded the company in 2004. Lampenwelt delivers over 45,000 own-brand and 3rd party products to customers in 12 countries across Europe.

About 3i Group

3i is an investment company with two complementary businesses, Private Equity and Infrastructure, specialising in core investment markets in Northern Europe and North America.

3i’s Private Equity team provides investment solutions for growing companies, backing entrepreneurs and management teams of mid-market companies with an EV typically between €100m – €500m. We back international growth plans, providing access to our network and expertise to accelerate the growth of companies across the consumer, industrials and business and technology services industries.

For further information, please visit: www.3i.com

Regulatory information
This transaction involved a recommendation of 3i Investments plc, advised by 3i Germany.

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Transaction Update: Bregal Unternehmerkapital is the new growth partner of Embassy Jewel

Bregal unternehmerkapital

Another Swiss company with long-standing tradition has entered a partnership with Bregal Unternehmerkapital. The acquisition of the majority stake in Embassy Jewel, a retail company specialising in luxury watches and jewellery, is the sixth investment by the current Bregal Unternehmerkapital fund and the second transaction in Switzerland.

Embassy has grown steadily over the years since it was established in 1970 by Kurt König, the father of Petra and Patrik König. Today, Embassy is one of the five largest retail companies in the sector and stands for the highest level of quality in the traditional Swiss watch market for more than 45 years. Highly respected and well-known within the luxury watch sector, the retail company operates five attractively located stores in Lucerne, the Swiss watch capital, as well as one shop in St. Moritz. With watches and jewellery from distinguished brands such as Breguet, Blancpain, Cartier, Jaeger-LeCoultre, IWC, Vacheron Constantin, Audemars Piguet, Breitling and numerous other manufacturers, Embassy appeals to an international clientele. With its new partner Bregal Unternehmerkapital, Embassy plans to make further investments to strengthen the branch network and the in-store infrastructure.

Patrik and Petra König continue to hold a significant stake in the company. As their new partner for growth, Bregal is delighted to support Embassy during the company’s next growth phase.

Press contact:

IRA WÜLFING KOMMUNIKATION
Dr. Reinhard Saller
Phone: +49 89 2000 30-30
bregal@wuelfing-kommunikation.de

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3i invests €200m in Hans Anders to support further growth

3I

3i Group plc (“3i”) today announces that it has agreed to invest €200m in Hans Anders, a leading optical retailer in the Benelux. The business is being purchased from Alpha Private Equity and Alpinvest.

Founded in 1982 and headquartered in Gorinchem, the Netherlands, Hans Anders is a market leading, value-for-money optical retailer in the Benelux with a presence in Sweden and France. The company offers a range of private label and branded spectacles, as well as hearing aids, contact lenses and sunglasses, at average price points significantly below its major competitors. The company is the most well-known optical retailer in its core markets with a high level of brand awareness and customer loyalty.

Hans Anders represents an attractive opportunity in the sweet spot of 3i’s consumer strategy and will benefit from long-term, macro growth dynamics including an aging population and an increasing focus by consumers on the value-for-money segment. 3i has extensive experience of investing in the value-for-money segment through its existing investments in Action, the leading international non-food discount retailer, and Basic-Fit, the largest value-for-money fitness club operator in Europe.

Hans Anders operates 253 stores in the Netherlands, 105 in Belgium, 62 in France and 36 in Sweden and achieved sales of €192m in the last fiscal year ending January 2017. It has achieved average annual revenue growth of 10% since 2013.

Robert Van Goethem, Partner & Head of Consumer at 3i, commented:
“Hans Anders is a successful company, led by a first class management team, with exciting growth potential. The European optical retail market remains heavily fragmented and we believe there are significant opportunities for Hans Anders as a leading player in the value-for-money segment. We look forward to supporting the management team to drive further growth and expand the company’s footprint.”

Remco Boerefijn, who will become CEO of Hans Anders following the transaction, said:
“We are delighted to be partnering with 3i. As well as its deep experience and strong track record of supporting retailers in the Benelux and Europe at large, it has an exceptional international network which will greatly benefit Hans Anders. 3i also has experience in the optical market which will be very valuable to our partnership.”

The transaction is subject to customary regulatory approvals.

-Ends-

For further information, contact:

3i Group plc
Silvia Santoro
Investor enquiries
Tel: +44 20 7975 3258
Email: silvia.santoro@3i.com

Kathryn van der Kroft
Media enquiries
Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

Notes to editors:

About 3i Group
3i is a leading international investment manager focused on mid-market private equity and infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit: www.3i.com.

About Hans Anders
Founded in 1982, Hans Anders is an international retailer of spectacles, hearing and contact lenses. Hans Anders, the core brand in the group, is the market leader in the Netherlands and has over 400 stores in the Netherlands, Belgium and France.  In Sweden the group operates under the Direkt Optik brand. Hans Anders employs over 1,500 people. For further information, please visit: https://www.hansanders.com.

Regulatory information
This transaction involved a recommendation of 3i Investments plc, advised by 3i Benelux.

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