US private equity firm considers bid for Ted Baker
A US private equity firm is understood to be considering making a takeover bid for fashion retailer Ted Baker.
According to a report by Sky News, Sycamore Partners is said to have hired investment bank Numis to advise on its interest in the company and is considering making a formal approach to the Ted Baker board.
The news follows a difficult few years for the business when its chief executive Ray Kelvin left due to claims of “forced hugging” and its chairman John Barton died suddenly. It has also battled against tough trading during the Covid-19 pandemic.
In its latest results for its fourth quarter trading period, the company said sales had increased by 35% year-on-year after it successfully navigated global supply chain disruptions and customers responded well to its new collections.
Rachel Osborne, chief executive of Ted Baker, said at the time: “We continue to make good progress with our transformation and despite the impact of Omicron on the quarter, were pleased to deliver group sales up 35% compared with last year. The strong improvement in trading margin is encouraging, along with the increase in full price sales mix, demonstrating the progress we’re making as Ted re-establishes its premium brand positioning.”
