Private equity group acquires Kurt Geiger

Tue, 15 Dec 2015 | BUSINESS SALE

British shoe retailer Kurt Geiger has been acquired by private equity firm Cinven for £245 million.

The price point values the business at eight times its trailing EBITDA, a source familiar with the matter told Reuters.

The business has changed hands five times in the past ten years. This latest shift will see Cinven take control and most likely expand the company into new areas, such as children's footwear. Further discussion around the future potential of the business focused on the intention to grow the online offering further.

It wasn't the only buyer interested in Kurt Geiger, however. Jimmy Choo owner Lion Capital was also bidding in the auction for the retailer.

A partner with Cinven, Maxim Crewe, commented: “Kurt Geiger represents an exciting opportunity to acquire the UK's leading women's footwear and accessories company with significant international growth.”

Previous owners of the brand include Harrods boss Mohammed Fayed and US retailer Jones Group. Prior to shifting into the hands of Cinven, it was owned by Sycamore Partners, who took over from Jones last year.

Kurt Geiger itself was founded in 1963 and has a reputation as offering particularly glamorous footwear.


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