Global private equity investment firm Cinven is considering a sale of portfolio company Kurt Geiger, with the luxury retail brand expected to come to market with a price tag of around £400m, according to a report by Sky News.
The report cites unnamed sources familiar with the matter as confirming that Cinven has appointed advisors at Bank of America to handle a potential auction for the business.
A sale of Kurt Geiger is expected to attract interest from other buyout firms as well as luxury retail groups, according to Sky News’ sources.
Kurt Geiger, which was acquired by Cinven in 2015, is currently expanding its portfolio standalone stores in the US to operate alongside its existing wholesale partnerships with both Dillard’s and Nordstrom, and in June, announced a £150m debt deal to finance the strategy and refinance existing debt.
