UK. Advent International, the majority owner of Swiss travel retailer Dufry, is selling UK active lifestyle brand Fat Face to private equity firm Bridgepoint in a £360 million deal.
Fat Face, established in 1988, retails premium men’s, women’s and children’s clothing and accessories. The company has 128 owned retail stores, mail order catalogues and an internet store.
It has over 1,500 employees and is forecast to achieve £111m of turnover for the year ended 31 May, 2007.
Fat Face CEO Louise Barnes, who will remain at the firm, commented: “This is a terrific deal for Fat Face. It marks the completion of a successful two years under Advent’s ownership and recognises the great potential for this exciting brand and, together with Bridgepoint, we firmly believe we can bring our plans for the future to life.”
Advent International is one of the world’s leading global buyout firms.
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