SUN EUROPEAN PARTNERS BUYS JACQUES VERT: Sun European Partners, an affiliate of U.S.-based Sun Capital Partners, has offered to buy British women’s wear retailer Jacques Vert. The group offered shareholders 21 pence, or 33 cents, per share in cash, a 68 percent premium on the publicly traded retailer’s share price on Dec. 15. The offer values the retailer at around 40 million pounds, or $62 million. Jacques Vert’s brands, which are tailored to more mature women, include Planet, Precis, Windsmoor and Jacques Vert, and in its fiscal 2011 the company reported revenues of 118.4 million pounds, or $183.5 million.
Matthias Gundlach, vice president of Sun European Partners, said: “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 in the retail market we know very well, and we look forward to working with the management team and employees to make the business even stronger.”
This story first appeared in the December 21, 2011 issue of WWD. Subscribe Today.
Earlier this year, Sun European Partners acquired U.K. women’s wear retailer Alexon, rescuing the company from bankruptcy.