Private equity firm CCMP Capital Advisors has acquired a controlling interest in Francesca’s Collections, a women’s fashion retailer.
The company’s founders will continue to be involved in its management.
Headquartered in Houston, Francesca’s Collections has more than 160 boutique locations in 33 states. It offers jewellery, handbags, gifts, accessories and apparel.
Greg Brenneman, chairman of CCMP Capital, says: “We are impressed by Francesca’s ability to grow its store base rapidly while maintaining its unique business model, culture and customer shopping experience. The company delivers industry-leading, store-level economics in terms of same store sales increases, cash on cash returns, sales per square foot and margins.”
Francesca’s chief executive John De Meritt adds: “With CCMP’s extensive experience in leading retail companies, they are the ideal partner to help us take Francesca’s to the next level. The CCMP team not only possesses a proven ability to grow entrepreneurial businesses, but they are also a great cultural fit. Knowing their prior successes and that we needed a strategic partner, I approached Greg to see if CCMP would be interested. CCMP’s exceptional operating resources will truly benefit Francesca’s as we enter the next phase of our development.”
