Bridgepoint, the international private equity firm, has announced that a company backed by the Bridgepoint funds has entered into an agreement to acquire Smyk from Empik Media & Fashion, a Warsaw Stock Exchange-listed retail group, in a transaction totaling €247 million.
Smyk, the leading retailer of children’s apparel, toys and accessories in Poland was established in 1952 in Warsaw. The company now operates a network of 125 stores in Poland and has a growing presence in Romania, Russia, Ukraine and Germany. Smyk has four store formats comprising megastores (typically located in retail parks), city stores, small stores in mid-sized cities and local malls, and outlets. It has also recently introduced an apparel-only ‘shop-in-shop’ format for its international markets. 12% of sales are currently made online. 2015 revenues are forecast to reach PLN 1,449 million.
“Smyk has a proven track record of success and enjoys high appreciation amongst its customers, especially in relation to its exciting fashion and toys offer. With the introduction of a new shareholder who is experienced in retail and is very supportive of our ambitions, we now have the opportunity to roll out our proven store concept, develop our exciting multichannel proposition and accelerate our international franchising and wholesaling expansion.”
Mark Rollmann, CEO