Private equity firm Sun European Partners has made an offer for womenswear retailer Jacques Vert. The deal values Jacques Vert at £41.2m
The European adviser to Sun Capital Partners has made a recommended cash offer through affiliate Minerva Holdco to acquire the retailer, which controls the brands Planet, Precis, Windsmoor as well as the eponymous Jacques Vert.
The group has around 900 outlets, mainly department store concessions. Most are in the UK but the retailer also has a presence in Canada and the Republic of Ireland.
In the year to April 30, 2011, Jacques Vert reported revenue of £118.4m.
Sun European Partners vice-president Matthias Gundlach said: “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 also owns Irisa Group, formerly Alexon, and sofas retailer ScS in the UK,as well as online business Neckermann.de in Germany and Dutch retailer V&D.