New Jersey based national department store retail chain Burlington Coat Factory Warehouse Corporation announced that the Company's stockholders have voted to adopt the merger agreement providing for the acquisition of the Company by affiliates of Bain Capital Partners, LLC, a leading global private investment firm.
The results of the vote were reported during a special stockholder meeting held today in Burlington, New Jersey. The number of shares voting to adopt the merger agreement represents approximately 86.3 percent of the total number of shares outstanding and entitled to vote at the meeting. The proposed merger was announced on January 18, 2006.
The Company expects to complete the merger transaction on April 13, 2006.
Burlington Coat Factory offers a broad selection of branded apparel at every day low prices across many product divisions, including coats, ladies sportswear, menswear, family footwear, baby furniture and accessories, and home decor and gifts. The modern Burlington Coat Factory, founded in 1972 by the Milstein family, has expanded from a single store selling coats to a multi-department retail chain with 367 stores in 42 states, predominantly under the "Burlington Coat Factory" name.
Bain Capital is a global private investment firm that manages several pools of capital including private equity, venture capital, public equity and leveraged debt assets with more than $37 billion in assets under management.
Since its inception in 1984, Bain Capital has made private equity investments and add-on acquisitions in over 230 companies around the world, including such leading retailers and consumer companies as Toys 'R' Us, Burger King, Staples, Shopper's Drug Mart, Brookstone, Domino's Pizza, Sealy Corp., Sports Authority, Duane Reade and Dollarama. Headquartered in Boston, Bain Capital has offices in New York, London, Munich, Hong Kong, Shanghai and Tokyo.
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