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Sun European affiliate makes cash offer for Jacques Vert

An affiliate of Sun European Partners, LLP (Sun European Partners), the European adviser to Sun Capital Partners has made a cash offer to acquire the entire issued and to be issued share capital of Jacques Vert Plc (Jacques Vert), the womenswear clothing retailer. Under the terms of the offer, shareholders would be entitled to receive an offer price of 21.0p in cash per Jacques Vert share, a 68.0% premium to the closing price on 15 December, 2011.  

Headquartered in London, UK, and listed on the Alternative Investment Market of the London Stock Exchange, Jacques Vert began trading in 1972 and is today a multi-branded fashion-retailing group. The four brands under the Jacques Vert umbrella – Planet, Precis, Windsmoor and Jacques Vert – are now retailed in approximately 900 outlets, mostly as concessions within leading department stores, but also as a number of stand-alone stores. Whilst the majority of the Company’s brands are located within the UK, the brands are also sold in over thirty stores in Canada and in an expanding number of stores in the Republic of Ireland. Each brand operates its own successful online web store bringing the product directly into the homes of thousands of customers. Jacques Vert operates in a niche market predominantly focused on the more mature and discerning female. 
In the year to 30 April, 2011, Jacques Vert reported revenue of GBP118.4 million.

Matthias Gundlach, (pictured) Vice President at Sun European Partners, says: "Jacques Vert has a collection of attractive, well-known brands that operate in a growing segment of the retail sector with a stable demographic. The Company is profitable and has traded robustly through the downturn. This is a space of the retail market that we know very well and we are looking forward to working with the management team and employees to make the business even stronger.”

Sun European Partners has significant retail and branded retail experience and counts among its affiliated portfolio companies a number of other leading businesses including Irisa Group (formerly Alexon), a UK ladies clothing retailer;, a multi-channel direct marketer; V&D, the largest department store chain in The Netherlands; DBApparel, a market leader in the design, manufacture and distribution of branded intimate apparel; and Scotch & Soda, a designer, marketer, wholesaler and retailer of contemporary casual apparel. In December 2011, Sun European Partners announced that one of its affiliates had reached an agreement to acquire shares in German retail chain Strauss Innovation.

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