Mon, 25 Mar 2013 | BUSINESS SALE
The fashion brand Bench, worn by celebrities such as Lady Gaga and Cameron Diaz, could be facing a sale, The Sunday Times has reported.
Americana, the Manchester-based firm behind the Bench brand and its sister Hooch, has brought in Canaccord Genuity to undergo a strategic review. A sale of the group may be considered. It is thought the deal could be worth about £100 million.
Established in 1989, Bench sells fashionable casual wear clothing including jeans, hoodies and tops for women, men and children. It gives a 25 per cent discount to students.
The brand Bench sells strongly in Germany, and also has a good presence in Britain and Canada.
Americana has been attempting to boost its presence overseas with a particular aim for America and Russia. It has yearly sales of £100 million and earnings before interest, tax and other charges of £16 million.
Americana is managed by Gordon Baird, who has also been involved in the popular brands Timberland and Adidas, and has been in the ownership of HG Capital since 2007.
ISIS Equity Partners were the previous owners. When it sold Americana its workforce had grown to 350, and produced yearly sales of £80 million, 14 per cent of which came from outside of Britain.
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