Sun European Buys 2 UK Retailers In Boost To Flagging Sector
20 12월 2011 - 4:06AM
Dow Jones News
Sun European Partners on Monday said it has agreed to buy both
American Golf, Europe's largest golfing retailer, and clothing
retailer Jacques Vert PLC (JQV.LN) in a rare boost to the U.K.'s
struggling retail sector.
The private-equity firm is paying 21 pence in cash per Jacques
Vert share, a 68% premium to the company's closing price Friday,
and valuing the retailer at GBP41.2 million.
Jacques Vert trades under four brands--Planet, Precis, Windsmoor
and Jacques Vert--which are sold in around 900 outlets, mostly as
concessions within leading department stores, as well as online.
The majority of the brands are located within the U.K. but they are
also sold in around 30 stores in Canada and in an expanding number
of stores in Ireland.
In the year to April 30, 2011, Jacques Vert reported revenue of
GBP118.4 million.
"Jacques Vert has a collection of attractive, well-known brands
that operate in a growing segment of the retail sector with a
stable demographic," said Matthias Gundlach, vice president at Sun
European Partners.
"The Company is profitable and has traded robustly through the
downturn. This is a space of the retail market that we know very
well and we are looking forward to working with the management team
and employees to make the business even stronger," he added.
Sun European will likely combine Jacques Vert with the women's
retailer Alexon, which Sun bought out of administration a few
months ago, a person familiar with the situation told Dow Jones
Newswires on Monday.
Sun European also said it has bought American Golf from LDC, the
buyout arm of Lloyds Banking Group PLC (LYG, LLOY.LN).
Financial details of the transaction weren't disclosed but a
person familiar with the situation told Dow Jones Newswires that
the deal was worth around GBP50 million.
American Golf has 88 stores in the U.K. and Ireland, two online
sites and around 760 employees. It sells a comprehensive range of
clubs, bags, balls, clothing and accessories supplied by major golf
brands, such as Callaway, TaylorMade and Titleist.
LDC acquired American Golf in 2004 and subsequently acquired
Online Golf in 2010.
Sun European said American Golf's like-for-like sales are ahead
of those from last year and revenue for 2010 amounted to about
EUR100 million.
-By Marietta Cauchi, Dow Jones Newswires; +44 207 842 9241;
marietta.cauchi@dowjones.com
Jacques Vert (LSE:JQV)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Jacques Vert (LSE:JQV)
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부터 6월(6) 2023 으로 6월(6) 2024
