Kurt Geiger sold in £95m buyout
Sunday 24 February 2008
Kurt Geiger, the luxury shoe retailer, has been bought for £95m in a management-led buyout backed by the private equity firm Graphite Capital.
Graphite is believed to have beaten off bids from rivals including Advent, 3i and Highland Star, as well as a bid vehicle backed by the Fleming banking family working alongside Wyfold International, a new private equity firm fronted by the former ITV chief executive Charles Allen.
A Qatari-backed group is also thought to have tabled an offer.
The auction was run by Hawkpoint, the corporate finance house bought in 2006 by the banking group Collins Stewart.
Barclays Capital, which acquired a 72 per cent stake in Kurt Geiger as part of a management buyout of the business from Harrods in 2005, is thought to have near doubled its money on the sale of its stake to Graphite.
Kurt Geiger has 22 stores worldwide, six of which are airport outlets. Its chief executive, Neil Clifford, said the change of ownership would enable the company to pursue an aggressive expansion programme. Kurt Geiger sells a raft of luxury shoe brands including Prada, Marc Jacobs, Gucci and Jimmy Choo, as well as its own labels, KG and Carvela.
Graphite is no stranger to the retail arena, having previously invested in high-street names including Maplin Electronics, Game and Paperchase. The firm also owns the Groucho Club, Soho's celebrity haunt.
Kirstie Allsopp has waded into the female fertility debate again
Gillian Anderson lays into gender disparity in Hollywood
- 1 Snoop Dogg and Jared Leto buy a stake in Reddit as A-list invests $50m
- 2 Prince held a Facebook Q&A and this is the only question he answered...
- 3 'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
- 4 35,000 walrus gather on north-west Alaska beach 'for a rest'
- 5 Brad Pitt, on the moment he completely lost his temper with Clint Eastwood's son
Snoop Dogg and Jared Leto buy a stake in Reddit as A-list invests $50m
Prince held a Facebook Q&A and this is the only question he answered...
Brad Pitt, on the moment he completely lost his temper with Clint Eastwood's son
Jennifer Lawrence nude photos leak: More celebrities allegedly targeted as third wave of hacked images released
Cheryl Cole named 'the most dangerous celebrity' on the internet
Exclusive: 'Putin's Russia has been my biggest regret,' says Nato's outgoing Secretary General
The Osborne Ultimatum: Chancellor’s benefits freeze bombshell will affect ten million households
Former Tory donor Arron Banks ups his Ukip donation to £1million following William Hague 'nobody' comment
There’s no excuse for Dave Lee Travis’s behaviour, but we need to keep a sense of proportion
Should gay sex be illegal? 16% of Britons think so
Mark Reckless becomes second Tory MP to defect to Ukip in a month
- < Previous
- Next >
iJobs Money & Business
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...
NEGOTIABLE: Austen Lloyd: TRUST ACCOUNTANT - KENTIf you are a Chartered Accou...
£18000 - £20000 per annum + OTE £30000: SThree: SThree are a global FTSE 250 b...
Highly Competitive Salary: Austen Lloyd: CITY - Law Costs Draftsperson - NICHE...