Bain Capital acquires Burlington Coat Factory

19 Jan '06
3 min read

New Jersey based national department store retail chain Burlington Coat Factory Warehouse Corporation announced that it has concluded its review of strategic alternatives and signed a definitive merger agreement to be acquired by affiliates of Bain Capital Partners, LLC.

Under terms of the agreement, Bain Capital will acquire all of the outstanding shares of Burlington Coat Factory Warehouse Corporation for $45.50 per share in cash, for a total consideration of approximately $2.06 billion.

Burlington Coat Factory offers a broad selection of branded apparel at everyday low pricing 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.

"They are thrilled that a transaction with Bain Capital delivers significant value to their stockholders," said Monroe Milstein, Burlington Coat Factory's Chairman, President and CEO.

"They are very proud of what the Company has accomplished over the past 30 years."

"Burlington Coat Factory is a well-managed retail business with a strong consumer following, high-quality product offerings, and good growth prospects," said Jordan Hitch, a Managing Director at Bain Capital.

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