BERLIN — The Hamburg-based sportswear company Tom Tailor has acquired Bonita, a 960 door German fashion retailer for 150 million euros plus a stock package of about 6 million Tom Tailor shares. Upon completion of the transaction, Bonita’s former owner, the Versorgungs-und-Förderungsstiftung, Lichtenstein will hold a 24.9 percent stake in Tom Tailor.
The deal opens up the 40 plus market for Tom Tailor, which said it plans to operate Bonita as an independent brand within the group. Tom Tailor, which caters to children, teens, and men and women with its Tom Tailor Casual and Tom Tailor Denim brands, said the takeover should also result in synergies in areas such as sourcing and logistics.
Tom Tailor grew sales 18.4 percent in 2011 to reach 411.6 million euros or $573.7 million, with net profit reaching 10.1 million euros or $14.1 million, a surge of over 320 percent compared to the year previously. All dollar figures areconverted from the euro at an average exchange rate for the period.
Bonita generated sales of about 379 million euros or $ 528.3 million in 2011, with an adjusted EBITDA of 59 million or $82.2 million.