Baring Private Equity Asia (“Baring Asia”) announced today that funds advised by the firm have acquired a substantial stake in UK-based global lifestyle brand company, Cath Kidston, from its existing majority shareholder TA Associates (“TA”) and members of the company’s management team. Baring Asia will have equal ownership with TA, and will partner with TA and the current management team to expand the brand and further develop its network in Asia.
Jamieson Corporate Finance advised CEO Kenny Wilson and his management team on the deal, as well as playing a key role in structuring and executing the transaction once terms had been agreed between all parties.
“The team at Jamieson were integral to delivering a successful transaction both for management and our investors. They brought an insightful and professional approach to the situation and were able to negotiate a position that met management’s objectives while bringing the institutions with us. However, what impressed me most was the way the Jamieson team took a central role in driving the deal to a conclusion on what was a very tight timetable.”
Kenny Wilson, CEO
Founded in 1993 with a single shop in London’s Holland Park, Cath Kidston is today a fast-growing global lifestyle brand with stores in China, France, Hong Kong, Indonesia, Japan, Korea, Malaysia, Singapore, Spain, Taiwan, Thailand and the UK. In July 2014, Cath Kidston opened its 100th overseas store in Seoul, South Korea, bringing the total number of stores to 166. Known as the “home of modern vintage”, the brand offers a range of products from accessories and womenswear to childrenswear and home furnishings. In the year ended 30 March 2014 Group sales increased 10% to £116 million with EBITDA rising 19% to £25 million. International retail sales increased 37% to £46 million.