M&A Deal Summary

Foschini Group Acquires Phase Eight

On January 16, 2015, Foschini Group acquired retailer Phase Eight from TowerBrook Capital Partners for 238M GBP

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

M&A Deal Summary
Date 2015-01-16
Target Phase Eight
Sector Retail
Buyer(s) Foschini Group
Sellers(s) TowerBrook Capital Partners
Deal Type Add-on Acquisition
Deal Value 238M GBP

Target

Phase Eight

LONDON, United Kingdom
Phase Eight offers a range of evening wear, bridalwear and accessories aimed at the 35- to 55-year-old woman. It has 107 stores and 203 concessions throughout the U.K. and Ireland as well as 15 stores and 113 concessions in 16 international markets including Europe, the Middle East and Asia.

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Buyer(S) 1

Buyer

Foschini Group

Cape Town, South Africa
Category Company
Founded 1924
Sector Retail
Employees6,508
Revenue 56.2B ZAR (2024)
DESCRIPTION

Foschini Group is a independent chain-store groups. It have retail brands that trade in clothing, jewellery, accessories, sporting and outdoor apparel and equipment, cellular goods and services and homeware to the broad, primarily middle and upper income groups throughout 2 000+ stores. Foschini Group was founded in 1924 and is based in Cape Town, South Africa.

DEAL STATS #
Overall 1 of 5
Sector (Retail) 1 of 3
Type (Add-on Acquisition) 1 of 5
Country (United Kingdom) 1 of 4
Year (2015) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-24 Whistles

London, United Kingdom

Whistles is a clothing retailer that provides men and women apparels, accessories and shoes.

Buy -

Seller(S) 1

SELLER

TowerBrook Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 17.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TowerBrook Capital Partners is a private equity firm focused on leveraged buyouts, leveraged build-ups and distressed situation investments throughout North America and Europe. TowerBrook prefers control-oriented investments and actively pursues complex situations that other firms may avoid. Target sectors include consumer services, distribution, beverages, pharmaceuticals, media, technology, communications, software, and healthcare. TowerBrook Capital Partners was established in 2001 and is headquartered in New York City.

DEAL STATS #
Overall 24 of 45
Sector (Retail) 1 of 3
Type (Add-on Acquisition) 12 of 21
Country (United Kingdom) 4 of 9
Year (2015) 1 of 3
Size (of disclosed) 6 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-24 Dialogic

Milpitas, California, United States

Dialogic is an IT services company that supercharges the impact of applications and amplifies the capacity of congested networks. Dialogic was founded in 1983 and is based in Milpitas, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-24 Van Geloven

Tilburg, Netherlands

Van Geloven is a producer of frozen snacks and appetizers in the Benelux market. The company produces various ragouts products (such as croquettes and bitterballs), satay, nasi and bami products (ethnic Indonesian fried rice, respectively, noodle dish) and minced-meat rolls (frikadellen, hamburgers). Van Geloven was formed in 1960 and is based in Tilburg, Netherlands.

Buy -
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