LONDON, UK Sun European Partners, LLP (“Sun European Partners”), the European adviser to Sun Capital Partners, Inc., announces that one of its affiliates has acquired Bonmarché from the Administrators, KPMG. It is intended that the business will trade from approximately 230 stores, thereby providing continued employment to approximately 2,400 employees in the UK. However, in order to ensure that the company can be placed on a sound economic footing, it is anticipated that approximately 160 stores will be closed.
Bonmarché is one of the UK’s largest women’s only value retailer focused on selling affordable, quality womenswear in a wide range of sizes to women over 45 years old. Ranges include casual and formal separates, outerwear, swimwear, lingerie, nightwear and accessories. Headquartered in Wakefield, UK, the business was founded in 1982 and acquired by the Peacock Group in 2002.
Matthias Gundlach, Vice President at Sun European Partners, said; “Bonmarché is a great brand that operates in an attractive niche of the apparel sector that we know very well. Thanks to its strong range with a good value–for–money proposition and a unique in–store service experience, Bonmarché has a loyal customer base of regular repeat buyers.
We are confident in putting a sustainable growth programme in place and working with the management team to develop the business successfully.”
Sun European Partners has significant retail and branded retail experience and counts among its affiliated portfolio companies a number of other leading businesses including Irisa Group (formerly Alexon), a UK ladies clothing retailer; American Golf, Europe’s largest golfing retailer; Strauss Innovation, a German retail chain; neckermann.de, a multi–channel direct marketer; V&D, the largest department store chain in The Netherlands; DBApparel, a market leader in the design, manufacture and distribution of branded intimate apparel; and Scotch & Soda, a designer, marketer, wholesaler and retailer of contemporary casual apparel. An affiliate of Sun European Partners now owns approximately 95% of Jacques Vert plc, the UK womenswear clothing retailer.
About Sun European Partners, LLP
Sun European Partners, LLP is the European adviser to Sun Capital Partners, Inc., a leading U.S.–based private investment firm focused on leveraged buyouts, equity, debt, and other investments in market–leading companies that can benefit from its in–house operating professionals and experience. Affiliates of Sun Capital Partners Inc. have invested in over 285 companies worldwide with combined sales in excess of €35 billion since the inception of Sun Capital Partners Inc. in the U.S. in 1995. Sun Capital Partners, Inc. has offices in Boca Raton, Los Angeles, and New York, as well as affiliates in London, Frankfurt, Paris, Luxembourg, Shanghai and Shenzhen. For more information, please visit www.SunEuropeanPartners.com