M&A Deal Summary

Dunelm Group Acquires Worldstores

On November 28, 2016, Dunelm Group acquired retailer Worldstores from Goldman Sachs Merchant Banking for 9M GBP

Acquisition Highlights
  • This is Dunelm Group’s 1st transaction in the Retail sector.
  • This is Dunelm Group’s 0th largest (disclosed) transaction.
  • This is Dunelm Group’s 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2016-11-28
Target Worldstores
Sector Retail
Buyer(s) Dunelm Group
Sellers(s) Goldman Sachs Merchant Banking
Deal Type Add-on Acquisition
Deal Value 9M GBP

Target

Worldstores

Twickenham, United Kingdom
Worldstores Ltd. is one of the UK's largest online retailers of products for the home and garden. There are over 500,000 products on the site. Worldstores has built a proprietary technology platform that manages suppliers and enables rapid cross-docking of stock directly from suppliers to customers so that customers can have next day, or day of choice, delivery. Much of the product requires 2-man delivery.

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Buyer(S) 1

Buyer

Dunelm Group

Syston, United Kingdom

Category Company
Founded 1979
Sector Retail
Employees11,000
Revenue 1.6B GBP (2023)
DESCRIPTION

Dunelm Group is a homewares retailers in the UK with 160 stores nationwide and an online webstore at dunelm.com. It has over 9,000 employees. Dunelm's headquarters are in Syston, Leicestershire. Dunelm offers customers a wide range of quality homeware items from bedding, sofas, curtains, cushions, quilts and pillows, to kitchenware and dining, lighting, wall art, furniture and rugs, as well as premium brands such as Dorma and Fogarty and in-house production of made-to-measure curtains and blinds. Dunelm was founded in 1979 as a market stall business, selling ready-made curtains. The first shop was opened in Leicester in 1984 and over the following years the business developed into a successful chain of high street shops before expanding into broader homewares categories following the opening of the first Dunelm superstore in 1991. Dunelm Group was incorporated in 1979 and is based in Syston, the United Kingdom.


DEAL STATS #
Overall 1 of 1
Sector (Retail) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (United Kingdom) 1 of 1
Year (2016) 1 of 1

Seller(S) 1

SELLER

Goldman Sachs Merchant Banking

New York, New York, United States

Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.


DEAL STATS #
Overall 68 of 109
Sector (Retail) 4 of 4
Type (Add-on Acquisition) 18 of 37
Country (United Kingdom) 4 of 5
Year (2016) 3 of 4
Size (of disclosed) 30 of 32
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-07 Blue Nile

Seattle, Washington, United States

Blue Nile is an online retailer of diamonds and fine jewelry. Blue Nile offers a customer experience that includes education, guidance, selection, customization capability, convenience and value. Blue Nile, Inc. was formed in 1999 and is headquartered in Seattle, Washington.

Buy $500M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-30 Tracelink

Wilmington, Massachusetts, United States

Tracelink is a provider of track and traces network for connecting the Life Sciences supply chain and eliminating counterfeit prescription drugs from the global marketplace. Tracelink was founded in 2009 and is based in Wilmington, Massachusetts.

Buy -