British investment company Apax Partners is looking to sell German discounter Takko Fashion, of which it is the main shareholder. After almost nine years at the helm, the British company want to sell their fashion chain at a (slight) profit.
1.4 billion euros
Apax bought Takko from Advent International in the spring of 2011 for an estimated 1.3 billion euros, just three years after paying just 770 million euros for the discount chain itself. British sources report that Apax is now hoping to get 1.4 billion euros for the chain.
After a period of major difficulties as a result of very expensive bonds, management changes, poor pricing and and a disappointing range policy, Takko has been economically profitable for several years. The chain expects the positive trend to also continue this year.
CEO Alexander Mattschull, has indirectly confirmed the situation to TextilWirtschaft: "Our owner is a private equity firm. As is customary with financial investors, Apax is looking into all possibilities for this investment against the background of a positive turnover and profit development."