Sagard, Jean Jacques Namani (President of Stokomani) and his management team have signed an agreement to acquire, from Advent International, Stokomani, the leading French discount wholesaler of leading brands. This transaction should be finalised by June 2012. The value of the transaction was undisclosed.
For over 50 years, Stokomani has been the leading French specialist discounter of end‐of‐line products. Through its network of 37 stores, Stokomani offers a large range of constantly renewed brand name goods at attractive prices in the clothing, sportswear, beauty and healthcare, home ware or toy sectors. It is based on this unique concept, developed by Jean‐Jacques Namani, the son of the company’s founder, that the group has achieved strong performance, doubling its size in five years and, today has sales of nearly 200 million euros.
Frédéric Stolar, Partner at Sagard, says: “We are delighted to accompany Jean‐ Jacques Namani in this new phase in the group’s development. We particularly appreciate the relevance of Stokomani’s model in the current economic environment, where consumers are seeking quality goods at attractive prices. In unfavourable conditions for specialised distribution, Stokomani has increased its turnover by over 15% per year, thanks to a remarkable management team and a permanently renewed offer. We are also delighted to be able to finalize this transaction in a difficult LBO market – evidence of the confidence that Stokomani and Sagard hold with senior and mezzanine lenders who are financing the transaction and thank them for that.”
Jean‐Jacques Namani, President of Stokomani, says: “We have succeeded in the development of Stokomani thanks to the talent of our employees and the quality of our relationships with leading French industrial players. We are partnering with Sagard because its family shareholding enables it to partner with us over time, while supporting our ambitious programme for opening stores. Sagard’s offer was definitely the most suited to the demands and the complexity of our activity.”
Pascal Stefani (pictured), Head of Advent International in France, says: “Over the past five years, our mission has been to support Stokomani’s growth strategy. The results are very positive as the company has more than doubled in size, reaching a turnover of nearly 200 million euros in 2011, through strong organic growth and doubling the number of stores, now at 37. Alongside Stokomani’s management, we have increased the number of brands sold, developed private label brands, and opened a purchasing office in Asia as well as a new logistics platform. The number of employees has grown from 460 to 1,250. Stokomani holds a unique position and is well placed to begin the next phase of its development.”
