Sun European buys Jacques Vert and American Golf
Sun European has bought two retail brands: American Golf and Jacques Vert.
The private equity firm has agreed to pay 21p-a-share for Jacques Vert in a bid which values the company at £40 million. The womenswear retailer, which trades under the brands Planet, Precis, Windsmoor and Jacques Vert, reported revenue of £118.4 million in the year to 30 April 2011.
Matthias Gundlach, vice president at Sun European Partners, commented: "Jacques Vert has a collection of attractive, well-known brands that operate in a growing segment of the retail sector with a stable demographic.
"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."
In a separate move, Sun European has bought American Golf from private equity investor LDC for an undisclosed sum.
The golf retailer, which has 88 stores in the UK and Ireland, achieved sales of £86.6 million last year, up 20% from 2009
Philippe Neuschaefer, vice president at Sun European Partners, said: American Golf is a niche retailer with an exciting product portfolio. The company is performing well and with our extensive experience in the retail sector, American Golf represents a significant opportunity for sustainable growth.
"We look forward to working with the management team and to continuing to develop the business."
Email this article to a friend
You need to be logged in to use this feature.
Please log in here