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Advent sells value fashion chain Takko to Apax
Dec '10
Advent International, one of the world's leading private equity firms, announced the sale of the value fashion chain Takko to Apax Partners. The transaction, which is subject to approval by the antitrust authorities, is expected to be finalized in the first quarter 2011. Takko is one of the leading European value fashion retailers in the rapidly growing value fashion segment.

Since acquiring Takko in 2007, Advent International has supported the company's management in its transformation from a hard discount to a value fashion brand and in accelerating its international growth strategy and expanding its business. The number of stores was increased, existing shops were extensively modernized, important operational procedures were significantly further developed and the selection of products was expanded.

Over the last three-and-a-half years, Takko has successfully opened new stores in Eastern and Western Europe and is now present in 15 countries, including Switzerland, Belgium, Portugal, Poland, Romania, Croatia, Slovenia, Slovakia, Lithuania and Estonia. In 2010 Takko has also opened stores in Italy and tests a market entry in Russia.

Ralf Huep, Managing Partner and Global Co-Head at Advent International, said: “Takko has grown very successfully and sustainably over the last three-and-a-half years, reporting double-digit growth rates in the globally difficult economic climate of fiscal years 2008 and 2009. Since 2007, Takko's revenues have increased by 30% to 938 million euros, the share of international revenues has been doubled and the number of stores in Germany and Europe has grown from 1,050 to about 1,500 today.”

Stephan Swinka, CEO of Takko, said: “Over the last years a repositioning and further development of the business model has allowed Takko to be fully new positioned and to establish the brand in a new segment. Thanks to the strategic reorganization and a number of operational improvements, Takko is in a position that will also provide us with excellent growth opportunities in the future. As a partner at our side over the past years, Advent has supported and actively accompanied the development of our business.”

Takko has a fully integrated business model that covers all segments of the value added chain from design and sourcing to production and sales, enabling it to offer a wide range of apparel products and accessories for young price-conscious yet fashion-orientated families.

At the beginning of 2010, Takko accelerated the roll-out of the “1982” store concept to expand its customer base, address additional target groups and explore the potential of new locations. Whereas Takko stores are located primarily on the outskirts of cities, “1982”-shops are more concentrated in inner city locations, ensuring a high customer frequency and generating an even greater stock turnover.

The product selection of “1982” focuses primarily on basic items such as T-shirts and sweatshirts at very attractive prices. In addition to the first stores in Kiel, Aachen and Rotterdam, “1982”-shops have been opened in Amsterdam, Offenbach, Braunschweig and Pforzheim since spring 2010. Mid-term plans foresee the opening of up to 200 stores.

Ranjan Sen, Managing Partner at Advent International, said: “Takko has been an excellent success story. We have worked successfully and trustfully in partnership withTakko to drive exceptional growth. With about 1,500 stores and a strong brand, Takko is now in an excellent position to tap the additional potential that exists in the value fashion segment. With “1982” Takko has furthermore developed a very promising concept that will further contribute to the company's continued growth.”

Advent International Corporation

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