Wednesday, December 5, 2012
Redcats has entered into an agreement for the sale of OneStopPlus Group, its plus-size business in the USA
PPR announces that Redcats has entered into an agreement with Charlesbank Capital Partners and Webster Capital for the sale of OneStopPlus Group, its plus-size business in the USA
PPR announces that Redcats has entered into a definitive agreement to sell OneStopPlus Group, its plus-size business in the United States, to Charlesbank Capital Partners and Webster Capital for an enterprise value of USD 525 million.
OneStopPlus Group consists of the OneStopPlus.com, Woman Within, Roaman’s, Jessica London, fullbeauty, KingSize, BrylaneHome and Bargain Catalog Outlet brands. The transaction will place OneStopPlus Group in an excellent position to take advantage of the full potential of all of its brands moving forward.
Charlesbank Capital Partners and Webster Capital are Massachusetts-based private equity firms with long track records of successfully investing in and growing companies across a range of industries, with notable expertise in direct-to-consumer retail businesses.
The sale of OneStopPlus Group will mark a further step forward in the transformation of PPR into a global leader in apparel and accessories within the Luxury and Sport & Lifestyle sectors. Together with the sale of the Sports and Leisure Group to Northern Tool + Equipment, which was announced last month, the sale of OneStopPlus Group will constitute the sale of PPR’s entire Redcats USA business.
The transaction, which is contingent on customary closing conditions and approval of U.S. antitrust authorities, is expected to close during the first quarter of 2013.
Peter J. Solomon Company acted as financial advisor and Wachtell, Lipton, Rosen & Katz acted as legal advisor to PPR in the transaction.
The PPR Group empowers a coherent ensemble of Luxury and Sport & Lifestyle premium brands, specializing in apparel and accessories, to reach their full growth potential. Distributed in more than 120 countries, PPR generated revenues of €12.2 billion in 2011 and had over 47,000 employees at year end. The PPR share is listed on Euronext Paris (FR 0000121485, PRTP.PA, PPFP). Find out more on Gucci, Bottega Veneta, Yves Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Stella McCartney, Sergio Rossi, Boucheron, Girard-Perregaux, JeanRichard, Puma, Volcom, Cobra, Electric, Tretorn and Fnac at www.ppr.com.
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Alexandre de Brettes
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