Home / Knowledge / News / Apparel/Garments / Brait acquires UK apparel retailer New Look for £780mn
Brait acquires UK apparel retailer New Look for £780mn
19
May '15
South African retail heavyweight Christo Wiese through his private equity vehicle Brait SE has acquired 90 per cent stake in UK fast fashion apparel retailer New Look.

Brait SE has acquired the stake for £780 million, primarily from funds advised by Apax Partners and Permira, which managed the company since the last 11 years.

The remaining 10 per cent stake will be held by founder Tom Singh and other New Look management officials.

“New Look CEO Anders Kristiansen, CFO Mike Iddon and CCO Roger Wightman will remain with the Company,” a New Look press release said.

The press release added that over the past 11 years, under the Apax and Permira Funds’ ownership, New Look has undergone a transformation and is now the leading clothing retailer with more than 800 global stores.

According to Brait, New Look seemed attractive as it has posted double digit EBITDA growth in recent years, has a solid cash flow generation and established UK footprint in the higher growth value segment.

Among other reasons it is also the leader in UK market value share and has strong growth prospects in France, Germany, Poland and especially China which is a priority market.

New Look also has a well-developed multi-channel offering via traditional stores and a fast growing ecommerce platform incorporating ‘click and collect’ options.

And lastly Brait is of the opinion that the scale and efficiency of New Look’s fast fashion operating model from source to customer is difficult to replicate.

New Look has net financial debt of £1 billion, however Brait and New Look’s management are comfortable with the company’s current leverage ratio given its strong cash flow generation.

Subject to market conditions, the Company will review financing alternatives in order to optimise the capital structure within the same leverage range. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Kai Pilger from Pexels

Apparel/Garments | On 26th Apr 2018

FOBAP in the Philippines trying for garments sector revival

The Foreign Buyers Association of the Philippines (FOBAP), a body...

German investors keen to invest in Pakistan: top official

Textiles | On 26th Apr 2018

German investors keen to invest in Pakistan: top official

A German traders delegation will soon visit Pakistan to explore...

Courtesy: Uster

Textiles | On 26th Apr 2018

Uster Technologies acquires Elbit Vision Systems

Uster Technologies has announced the successful closure of the...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search