GERMANY: Apax Partners buys Takko Fashion
Takko Fashion is under new ownership
Value clothing retailer Takko Fashion is under new ownership after private equity group Apax Partners acquired it from Advent International for an undisclosed sum.
Christian Nather, partner at Apax Partners, voiced full support for the current strategy pursued by Takko’s management team under CEO Stephan Swinka.
Takko, which has about 1,500 branches in 15 European countries, posted EBITDA of EUR171m (US$229m) and turnover of about EUR1bn in the year to October 2010.
The company has opened 500 new stores in the past four years, entering nine new markets including, most recently, Italy.
Nather said Takko was “exceptionally well positioned to benefit from the above average growth of the value segment of the fashion market”.
He added: “We regard the Takko concept as having enormous potential for expansion, but also further opportunities for sales productivity growth.
“In addition, the new ‘1982’ brand, which focuses on low-cost basics, offers further growth opportunities.”
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