Divestiture • Retail

Permira and ICG Acquire Takko Fashion

On March 1, 2000, private equity firm Permira and mezzanine finance firm ICG acquired retailer Takko Fashion from Tengelmann Warenhandelsgesellschaft KG for 604M EUR

Acquisition Context
  • This is Permira’s 2nd and ICG’s 3rd transaction in the Retail sector.
  • This is Permira’s 49th and ICG’s 26th largest (disclosed) transaction.
  • This is Permira’s 6th and ICG’s 2nd transaction in Germany.
Investment Fate
  • Takko Fashion was sold to a consortium of financial buyers in 2007.
  • Takko Fashion was sold to a consortium of financial buyers in 2010 for 1.7B USD.

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M&A Deal Summary

Date March 1, 2000
Target Takko Fashion
Sector Retail
Buyer(s) Permira
ICG
Sellers(s) Tengelmann Warenhandelsgesellschaft KG
Deal Type Divestiture
Deal Value 604M EUR

Target Company

Takko Fashion

Telgte, Germany
Takko Fashion is a retailer of fashionable 'value for money' clothing, targeting young families and women aged between 25 and 40. Takko Fashion was formed in 1982 and runs over 900 stores in Germany, Austria, The Netherlands, Hungary, and the Czech Republic.
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Buyers Overview 2

Buyer

Permira

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 80.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Permira is a mega-sized private equity firm that targets large company investments around the world. Permira invests to support acquisitions, leveraged buyouts, take-privates, turnarounds, and growth buyouts. Areas of interest include healthcare, financial services, chemicals, consumer products and services, industrial products and services, technology, media, and telecom. Permira will consider opportunities in Europe, Asia, and North America. Permira was formed in 1985 and has offices in Menlo Park, Frankfurt, Luxembourg, London, Hong Kong, Madrid, Milan, Paris, Stockholm, Tokyo, Guernsey and New York City.


Deal Context for Buyer #
Overall 23 of 171
Sector: Retail 2 of 11
Type: Divestiture 3 of 18
Country: Germany 6 of 23
Year: 2000 2 of 6
Size (of disclosed) 49 of 64
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-01-01 Euro Dental Holding

Germany

Euro Dental Holding provides mail order house for dental consumables.

Buy €137M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-04-18 Across Wireless AB

Stockholm, Sweden

Across Wireless AB is a company that had developed a range of products designed to enable mobile phone operators to manage their populations of SIM cards via their wireless networks and to implement mobile internet and mobile commerce applications on a standard phone.

Sell -
Buyer

ICG

London, United Kingdom

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 33.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.


Deal Context for Buyer #
Overall 61 of 294
Sector: Retail 3 of 12
Type: Divestiture 6 of 27
Country: Germany 2 of 24
Year: 2000 7 of 10
Size (of disclosed) 26 of 82
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-03-01 The Tetley Tea Group

Greenford, United Kingdom

Tea Beverage Company. Tetley’s operations were arranged in three divisions addressing the UK tea market, the tea and coffee market in the USA and various smaller subsidiaries and joint ventures in a number of other.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-03-23 Addum AB

Kista, Sweden

Addum was, at acquisition, an industry conglomerate consisting of many separate businesses including construction equipment rental (Cramo), pre-cast concrete manufacturing and the production of piston rings.

Sell -

Seller Profile 1

SELLER

Tengelmann Warenhandelsgesellschaft KG

Mulheim an der Ruhr, Germany

Category Company
Sector Retail
Revenue 11.3B EUR (2009)
DESCRIPTION

Tengelmann Warenhandelsgesellschaft KG is an international multi-sector retailer in Europe.


Deal Context for Seller #
Overall 1 of 1
Sector: Retail 1 of 1
Type: Divestiture 1 of 1
Country: Germany 1 of 1
Year: 2000 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-31 babymarkt.de

Dortmund, Germany

Baby-Markt.de (www.baby-markt.de) is a online store for baby products in Germany.

Buy -

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