Bain Capital acquires Burlington Coat Factory

19 Jan '06

3 min read

"They are delighted to have the opportunity to partner with the experienced management team to build on the company's track record of success in merchandising and store operations and to continue to grow the store portfolio."

The Board of Directors of Burlington Coat Factory has approved the proposed merger, which is subject to approval by the Company's stockholders and other customary closing conditions, including governmental approvals.

Bain Capital has obtained commitments from members of the Milstein family and affiliated entities (representing approximately 62 percent of the current shares outstanding) to vote all Burlington Coat Factory shares owned by them in favor of the merger.

In connection with the strategic review and the proposed merger, Goldman, Sachs & Co acted as financial advisor to the Company and rendered a fairness opinion to the Company in connection with the proposed merger.

Hughes Hubbard & Reed LLP acted as legal counsel to the Company.

Kirkland & Ellis LLP acted as legal counsel to Bain Capital.

Burlington Coat Factory will file a proxy statement with the Securities and Exchange Commission concerning the proposed merger.

Holders of Company common stock are urged to read the proxy statement when it becomes available because it will contain important information.

In addition, the Company's directors, executive officers and certain of its employees may be deemed to be participants in the solicitation of proxies from the stockholders of the Company with respect to the proposed merger.

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