Alternative asset manager The Carlyle Group has acquired a portfolio of six multi-channel retail businesses from Arcandor subsidiary Primondo Specialty Group, namely Versandhaus Walz, Planet Sports, Bon’A Parte, Elégance, Mirabeau and 50 per cent of Vertbaudet Germany.
Financial terms were not disclosed.
Gregor Boehm, managing director and co-head of Carlyle Europe, says: “The group has demonstrated very solid performance during the downturn and we are excited about the continued growth potential. Due to its multi-channel platform and strong niche positions in the highly resilient specialty home shopping sector, the group has strong long-term prospects. We look forward to working with the management team to help the group reach its full potential, expanding the business in Germany and internationally both through organic growth and acquisitions.”
Matthias Siekmann, managing director of the group, says: “We are exceptionally proud of our latest achievements across our portfolio of specialised multi-channel retail businesses. With our strong brands and our leading e-commerce activities we are particularly well positioned to benefit from the increasing home shopping trend. Carlyle is the perfect partner to provide institutional support for our group that will facilitate our plans for growth and further enhance our offering to customers. We will be able to build on Carlyle’s comprehensive sector expertise as well as its global reach to achieve our growth ambitions and sustainably develop the business.”
Equity for this transaction comes from Carlyle Europe Partners III, a EUR5.4bn buyout fund focused on investment opportunities in Europe. This is the fifth investment in 2010 for CEP III following B&B Hotel Group (hotel chain), Giannoni (manufacturer of stainless steel heat exchangers), NBTY (manufacturer of vitamins and nutritional supplements) and Commscope (infrastructure solution provider for communications networks – a deal which is expected to close in Q1 2011).
