your local contact: m&a international inc. this booklet was compiled by the m&a...

Your local contact:

M&A International Inc.

This booklet was compiled by the M&A International Inc. Retail Group demonstrating its unparalleled expertise in the retail sector.

For further information please visit our websitewww.mergers.net

Audon Partners A/SHenrik AudonTel.:+45 3343 [email protected] www.audonpartners.dk

Retail Deal Booklet

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Retail Deal Booklet

Retail is local and international – similar to our alliance. The experienced professionals of M&A International Inc. provide critical global knowledge of opportunities and market conditions.

Tap into this worldwide team that understands your business and the unique challenges facing your industry.

ence, knowledge and contacts in the retail sector. These professionals form our international Retail Group which meets regularly to exchange know-how, contacts and ideas. Together we combine a unique force of local and international retail knowledge.

Some of the areas where we have particular expertise include:

• Apparel

• Automotive

• DIY/gardening

• Eating & drinking

• Electronics

• Food & beverage

• Home furnishing

• Leisure

• Nonstore retailers

We combine solid local market knowledge with an international capability to locate partners, acquisition targets or potential acquirors.

• You want to sell your company and achieve the most attractive conditions

• You want to expand into new geographical areas within your country or abroad

• You are looking for a financial or strategic partner for your opera-tions

• You want to expand into new activities

The M&A International Retail Group is your partner. Within our international organization, a group of professionals from more than 20 member firms have special experi-

Please see page 3 for a list of specialist contacts, or for more information, visit us at www.mergers.net.

Retail group

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Retail Deal Booklet

Retail group specialists

ArgentinaHernan Sambucetti

Baltic StatesLauri Isotamm

BelgiumAlex Vandekerckhove

BrazilGianni Casanova

ChileWillie Martin

DenmarkHenrik Audon

FinlandLeif Ekström

GermanyDr. Lutz Becker

IrelandJacinta Garrihy

JapanTom Eastling

NetherlandsMarc van de Put

NorwayTrygve Graff-Wang PolandBill Fawkner-Corbett

RussiaGrigory Dudarev

SloveniaDrago Kavsek

Spain José F. Álvarez SwitzerlandKonrad Althaus

United KingdomPaul HermanSuzanne Allan

USAAlex MammenJack CampbellWarren P. ColemanBarry E. SteinerJohn MondoloniSpencer CavalierTom McDowell

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Retail Deal Booklet

Clients are in bold

Apparel (p.6)

Automotive (p. 8)

DIY/gardening (p.10)

Eating & drinking (p.12)

Electronics (p.14)

Target Buyer Seller Sub-sector

Selected transactions

Feldpausch PKZ Group Private shareholders

Edinburgh Woollen Mill Newco backed by BSIF Rutland Trust

Confecciones Umbrale Almacenes París Shareholders

Pacito ESGE Garant Private shareholders

Gherardini Dadarosa Srl Watanabe Ltd.

Sasha Dynasty Group Denholme Group

Volna d.d. Tekstil d.d. Minority shareholders

Amserv Group Majority Shareholders Minority shareholder

OÜ Pointing SilberAuto Shareholders

Autoparts Inc. Tamsen Private shareholders

Jacobs Group UnitedAuto Group Private shareholder

Cycle Gear, Inc. Harvest Partners American Cap. Strategies

International Tyre Brands Private investment group Private Equity

Car Toys Inc. TA Associates Private shareholder

Norgros Rautakesko Ltd. Private investors

Consenta subsidiaries Several Parties Consenta Holding

Blooms of Bressingham IPO Private shareholders

Heiton Group plc Grafton Group plc Shareholders

Ehitusmaailm Kesko Minority shareholders

Harald Nyborg Private investor Private shareholders

Ehitus Service Askembla Asset Mgt Minority shareholders

7 late night venues Soho Clubs and Bars Ltd Private shareholders

Fishworks plc Several parties Shareholders

Winners Int. Restaurants Lee’s Famous Recipes Private shareholders

Po Na Na Newco backed by Avanti Private shareholders

Pasqua Inc. Starbucks Shareholders

Brinker International eatZi’s Market Shareholders

RTM Triarc Companies Shareholders

Wolf Camera Ritz Camera Centers Private shareholders

Eko-Contel Germanos SA Private shareholders

Telecom. Centre Mobile Germanos SA Private shareholders

Fotoluks Private investors Shareholders

Elektronabava d.d. Rexel SA Minority shareholders

AC Electrical Holdings plc Wolseley UK Private shareholders

Hi-End Limited Armour Group Private shareholders

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Retail Deal Booklet

Clients are in bold

Food & Beverage (p.16)

Home furnishings (p.19)

Leisure (p.21)

Miscellaneous (p.23)

Nonstore retailers (p.25)

Target Buyer Seller Sub-sector

Selected transactions

Coffeeheaven IPO Bakery Services plc

Achimer Stadtbäckerei Backstube Siebrecht Private shareholders

Frishback MBO Team Private shareholder

BWG Holdings Ltd Triode Acquisitions UK Ltd Cognetas LLP

Sean O’Connor & Co Ltd Noel Kavanagh Patricia O’Connor Joyce

4 Golff supermarkets Poisz Supermarkten J&W Vaestgoed B.V.

Whittard of Chelsea Baugur Group Shareholders

Biva Dania Capital/Odin Equity Private shareholders

Nabukas UAB Libra Holding UAB Private shareholders

Store chains Filocolore Private shareholders

Wickes Furniture Company Sun Capital Partners Private shareholders

Invita Norema ITH Industri Invest

Carlson Pool & Spas Aqua Quip Private shareholders

Jecklin Fréquence Laser Private shareholders

Baltsport Sportland Shareholders

Tonic Henderson Vitawell

Jurys Doyle Hotel Group JDH Acquisitions plc Shareholders

Portmarnock Capel Ltd Shareholders

Jarvis Hotels plc Kayterm plc Shareholders

BC Sports Collectibles Private Equity Fund Electronics Boutique

Catisa Norio Corporation Private shareholders

3 perfume store chains Perfumerias Caoba Private shareholders

Nectar Warburg Pincus Loyalty Management

Aigas Nams Penninn hf Shareholders

Vilniaus Optika Vision Express Shareholders

The Gift Voucher Shop MBO Team FEXCO

Arnotts plc Nesbitt Acquisitions Ltd Shareholders

Vedia MBO team Great Universal Store

Sparklers James Meade Limited Private shareholders

Watchline Versand AG Robert Klingel GmbH Private shareholders

Kortingsbon.nl Foresta Investerins M. Private shareholders

Home Shop Scandinavia Rusta Private shareholders

Greetings Direct Flying Brands plc Private shareholders

Dial-a-phone Limited Barclays Private Equity Private shareholders

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Retail Deal Booklet

PKZ Group acquired Feldpausch

PKZ Group, a leading Swiss fashion company with a turnover of approx. CHF 200 million and 500 outlets in Switzerland acquired Feldpausch for the purpose of a successor arrangement. Feldpausch is a major retailing women's apparel and fashion garments with several outlets in Switzerland. Turnover of approx. CHF 60 million. M&A International Inc. advised the seller.

Binder Corporate Finance Ltd.

Bern, Switzerland

Smith & Williamson Corporate Finance Ltd

London, UK

The Edinburgh Woollen Mill secondary buy-out of retail chain

£68 million secondary buy-out of non fashion men and women’s clothing retailer. The chain consisted of 285 outlets across the UK and had sales of £165 million. M&A International Inc. initiated the transaction and acted as financial adviser to the buy-out vehicle.

Umbrale has sold brand names and operations to Almacenes París

M&A International Inc. acted as sole financial advisor to the shareholders of Confecciones Umbrale Ltda. in the sale of the brand names and operations to Empresas-Almacenes París. Confecciones Umbrale is a leading manufacturer and retailer of female apparel in Chile. Empresas-Almacenes París is one of the leading department stores in Chile.

ESGE Garant AG Spreitenbach acquired Pasito AG

IB Partners

Santiago, Chile

Angermann M&A International Inc.

Hamburg, Germany

Apparel

M&A International Inc. represented by:

Garant Schuh + Mode AG has through its subsidiary acquired ESGE Garant AG Spreitenbach assets of Pasito AG, Switzerland. M&A International Inc. initiated the contact between the parties and advised the whole acquisition process.

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Retail Deal Booklet

Dadarosa Srl has acquired Gherardini

M&A International Inc. assisted in disposing of the shares of Gherardini Group, owned by Watanabe Ltd. Gherardini is a manufacturer of top quality women handbags based in Florence. Production is distributed in Italy and the main international markets. Gherardini’s products are firmly established and well regarded in the Japanese market, where distribution is carried out by Misaki Shoji, a leading Japanese distributor of luxury goods. The company operates in the main Japanese cities through an extensive network of own boutiques and retailers in the best departments stores.

Arietti & Partners

Turin/Milan, Italy

IBI Corporate Finance

Dublin, Ireland

Denholme Group has divested the Sasha retail chain

Established in 1983, Sasha is the leading indigenous retailer of mid-priced ladies' clothing in Ireland. The Company operates from 30 stores in city centre, out-of-town and provincial locations. M&A International Inc. approached a wide range of buyers and there was significant interest in the business. The Company was eventually sold to Dynasty Group, which operates a chain of stores throughout Ireland and sells fashion jewellery. Dynasty Group is also a supplier to Sasha.

Tekstil acquired Volna

Tekstil is a textile and apparel retailer and has been bought a company Volna, also a textile and apparel retailer.

Brantano subsidiary acquired by the A.S. Watson Group

Publikum d.d.

Ljubljana, Slovenia

Capital Advice NV

Antwerp, Belgium

Apparel

Founded in 1953, The Brantano Group currently sells shoes under the Brantano name in Belgium, Luxembourg, and the United Kingdom. The franchise stores opened in Bahrain, the United Arab Emirates, Saudi Arabia and Qatar also now bear the Brantano name. The Brantano Group reached an agreement with the A.S. Watson Group regarding the sale of all of its stores in the Netherlands.


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Retail Deal Booklet

The minority shareholder sold its 28% stake in Amserv Group to the majority shareholders. Amserv Group is one of the leading car retailers in the Baltics. Amserv sells such car brands as Toyota, Opel and Lexus in the Baltics.

GILD Bankers

Tallinn, Estonia

GILD Bankers

Tallinn, Estonia

SilberAuto is the official dealer of Mercedes-Benz, Jeep, Chrysler and Mitsubishi in Estonia. It is the leading car retailer in the Baltic countries with 2005 annual sales of EUR 175m. In 2003, GILD Bankers advised the company in valuing the Mitsubishi and Chrysler dealer, OÜ Pointing after which SilberAuto acquired it.

The TAMSEN GMBH is continental Europe’s car dealer no. 1 in the segment of high luxury cars. To carry out further expansion plans Mr. Tamsen was seeking a strong strategic partner. M&A International Inc. was assigned to identify potential strategic partners and to lead the sales process as well as final negotiations. Preferred and finally successful buyer was the US speciality retailer, UnitedAuto Group, Inc. (UAG) acquiring a 75% interest in TAMSEN GmbH. The remaining 25% interest will continue to be held by Mr. Tamsen, and he will remain active in managing the business with UAG.


Hamburg, Germany


Hamburg, Germany

Automotive


Amserv Group minority shareholder buy-out

SilberAuto - expansion of a leading car retailer in the Baltics

Tamsen sold 75% of the shares to UnitedAuto Group

UnitedAuto Group acquired 50% shares of Jacobs Group

M&A International Inc. has been assigned to assist UAG in its acquisition of 50% of the shares in the Jacobs Group of companies. This car retail business comprises of VW, Audi and Toyota dealerships realizing consolidated sales of EUR 120 million.

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Retail Deal Booklet

Cycle Gear, Inc. acquired by Harvest Partners

Cycle Gear, Inc., headquartered in Benicia, CA, is the nation’s premier retailer of motorcycle and ATV riding gear, parts and accessories. Cycle Gear engaged M&A International Inc. to find a partner to fund the next stage of the Company’s aggressive growth plans while providing liquidity to the Company’s long-term institutional investor, American Capital Strategies, Ltd. Through a disciplined process, M&A International Inc. achieved all shareholders’ objectives at a premium valuation that recognized the Company’s strong growth prospects.

Barrington Associates

Los Angeles, USA

Cavendish Corporate Finance Ltd.

London, UK

International Tyre Brands acquired by a private investment group

M&A International Inc. advised on the sale of the UK’s third largest tyre retailer, International Tyre Brands. The Company was sold after an auction, to a private investment group.

Car Toys Inc. acquired by TA Associates

The sale is part of a recapitalization plan finalized by the Seattle-based retailer, which specializes in car audio systems and cellular phones. The recapitalization package includes a revolving credit line and a term loan through First Dominion Capital in New York. The amount of TA Associates’ investment, as well as the amount of debt undertaken with First Dominion, were not disclosed.

Alexander Hutton Inc.

Seattle, USA

Automotive


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Retail Deal Booklet

Norgros AS acquired by Rautakesko Ltd.

Norgros, the owner of the leading hardware and building material chain Byggmaker, was acquired by Rautakesko in June 2005. The purchase price was €122 million for 100% of the shares. The sellers’ motivation for the sale was to improve purchasing conditions for the chain members. Rautakesko became the number one provider of building material in the Nordic area after this transaction. M&A International Inc. acted as the financial advisor to the private shareholders (mostly chains members) of Norgros.

Bridgehead AS

Oslo/Bergen, Norway

Audon Partners A/S

Copenhagen, Denmark

Consenta Holding divests all its activities after 3 troublesome years. Consenta Holding, a building materials company listed on the Copenhagen Stock Exchange with sales of €158 million, had experienced a cumulative loss of more than €15 million over a 3-year period. M&A International Inc. advised on the sale of Consenta’s 6 subsidiaries followed by a delisting of Consenta.

Blooms of Bressingham, a garden centre chain was admitted to the AIM in December 1999 and was valued at a market capitalisation of £10.8 million. Subsequently M&A International Inc. assisted the company in raising a further £4 million via a placing.


London, UK


Dublin, Ireland

DIY/gardening


Heiton Group includes, inter alia, the No. 1 builders merchanting operation and the No. 2 DIY retailing brand in Ireland. The business was a good strategic fit with Grafton Group’s existing operations and consolidated its position as the leading player in the Irish market. Overall, Heiton Group has over 50 trading locations (six in the UK), an average of 1,900 employees and a turnover in excess of €500m.

Consenta Holding divests all its activities

Blooms of Bressingham plc. fund raising through IPO

Heiton Group plc €353m recommended offer by Grafton Group plc

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Retail Deal Booklet

Ehitusmaailm (AS Fanaal) acquired by Kesko

Ehitusmaailm is the leading DIY chain in Estonia. The company was acquired by Finnish Kesko and subsequently renamed K-Rauta. GILD Bankers represented the minority shareholders of Ehitusmaailm.

GILD Bankers

Tallinn, Estonia

GILD Bankers

Tallinn, Estonia

Ehitus Service minority shareholders exit to private equity

Ehitus Service is an Estonian DIY and garden supplies chain. GILD Bankers advised the minority shareholders of the company in the sale to a private equity fund managed by Askembla Asset Management.

Rautakesko acquired Stroymaster

Stroymaster is one of the major DIY store chains in the St. Petersburg area. Solid Invest advised the Finnish retail company Rautakesko of the Kesko Corporation to acquire 100% of one of largest St. Petersburg retail network of a DIY format Stroy-master. Along with the legal advisers and auditors of Rautakesko Solid Invest acted as an investment consultant on the buyer’s side and was engaged in the preparatory activities and negotiations, deal structuring, full transaction risk analysis and due diligence.

Solid Invest

St. Petersburg/Moscow, Russia

DIY/gardening


Harald Nyborg acquired by Lars Larsen

Audon Partners A/S

Copenhagen, Denmark

The Danish do-it-yourself centre, Harald Nyborg was acquired by Lars Larsen. M&A International Inc. advised the private shareholders on the sale.

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Retail Deal Booklet

Soho Clubs and Bars Limited acquired seven late night venues in Soho, London and arranging senior debt of £10 million. M&A International Inc. acted as financial adviser to the Company and arranged senior debt finance.


London, UK


London, UK

Specialty fish restaurant and fishmonger was admitted to Alternative Investment Market and raised £4.4 million in an IPO. M&A International Inc. acted as Nominated Adviser to the company.

The management buy-in/buy-out team backed by UK venture capitalist, Avanti Capital PLC, acquired up to 28 bar and nightclub sites from the administrators of Po Na Na Group plc for up to £6 million. M&A International Inc. advised Management.


London, UK

Eating & drinking

Soho Clubs and Bars Ltd acquired seven late night bars & venues

Fishworks plc was admitted to AIM

MBO/MBI of Po Na Na

Winners International Restaurants, Inc. operates and franchises quick-service restaurants under the Mrs. Winner’s Chicken & Biscuits brand name across seven Southeastern states. With 91 company owned stores and 21 franchised locations, Mrs. Winners generated annual system wide revenues in excess of $85 million. Mrs. Winners retained M&A International Inc. (MAI) to evaluate strategic alternatives, including a potential sale of the company. MAI structured and negotiated the sale of Mrs. Winners to Lee’s Famous Recipes, Inc., a franchisor of over 150 quick-service restaurants.

Winners Int. Restaurants acquired by Lee’s Famous Recipes

TM Capital Corp.

New York, USA

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Retail Deal Booklet

Pasqua Inc. acquired by Starbucks

Pasqua, Inc., a specialty coffee retailer founded in 1985, engaged M&A International Inc. to conduct a full sales process identifying the best likely acquiror to guide the Company in achieving its future growth plans. Starbucks Corporation was selected as the leading party and ultimate acquiror of the Company. M&A International Inc. achieved all shareholders’ objectives at a premium valuation.


Los Angeles, USA

Matrix Capital Market Group

Richmond/VA, USA

eatZi’s Market acquired Brinker International

Specialty retailer of chef-prepared restaurant quality meals, eatZi’s was looking to expand nationwide. M&A International Inc. worked with the eatZi’s team to refine the company’s development plan. Castanea Partners of Boston was selected based on their experience with upscale, specialty retail operations. M&A International Inc. closed the transaction in a very tight timetable, and on better terms then those initially proposed.

RTM acquired by Triarc Companies

RTM Restaurant Group, the largest restaurant franchisee in the U.S., operates 775 Arby’s® restaurants in 22 U.S. RTM retained M&A International Inc. to explore strategic alternatives, including the potential sale of RTM to Triarc Companies, Inc. (NYSE), the franchisor of the Arby’s® restaurant system. M&A International Inc. assisted RTM in structuring and negotiating its sale to Triarc in a transaction valued at $725 million.

TM Capital Corp.

New York, USA

Eating & drinking


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Retail Deal Booklet

Wolf Camera, Inc. is a leading retailer of photographic and digital imaging products and services with almost 400 store locations. Given difficult industry conditions and substantial indebtedness, Wolf filed for Chapter 11 bankruptcy protection and retained M&A International Inc. as financial advisor. M&A International Inc. worked with Wolf to pursue a broad range of alternatives, including structuring and financing a plan of reorganization and the potential sale of the company. M&A International Inc. assisted in completing the Section 363 bankruptcy sale of Wolf’s business and assets to Ritz Camera Centers, Inc.

TM Capital Corp.

New York, USA

Poland Corporate Finance

Warsaw, Poland

Germanos S.A., the Greek telecommunications retailer initiated operations on the Polish market for mobile phones and accessories by acquiring 50 shops in the retail chain Eko-Contel Sp. z o.o

Germanos S.A. bought the Telecommunications Center Mobile chain, increasing its number of outlets from 54 to 94.


Warsaw, Poland

GILD Bankers

Tallinn, Estonia

Electronics


Fotoluks is one of the largest photography products, retail and wholesale companies in Estonia. The company has 10 shops in Estonia and it has plans to expand further to Latvia. In 2005 GILD Bankers advised a group of private investors in the acquisition of the company. M&A International Inc.’s tasks included structuring the deal and arranging the debt financing.

Wolf Camera acquired by Ritz Camera Centers

Germanos SA acquired 100% of Eko Contel Sp. z o.o.

Germanos SA acquired 100% of Telecommunication Centre Mobile

Fotoluks acquired by private investors

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Retail Deal Booklet

Rexel SA acquired Elektronabava

Rexel SA, electrical equipment wholesaler from France bought back in 2000 a 100% stake of Slovenian company Elektronabava (specialized wholesale supplier of electro technical material). The amount of the deal was 3.75 billion SIT.

Publikum d.d.

Ljubljana, Slovenia

Cavendish Corporate Finance Ltd

London, UK

AC Electrical Holdings plc was acquired by Wolseley UK

With 40 branches nationwide, over 350 staff and a turnover of over £52m in its last financial year, AC Electrical is the fastest growing player in the UK electrical distribution market. Wolseley UK is the UK's leading distributor of plumbing & building materials and products, serving professionals in the construction industry. M&A International Inc. advised the seller.

Armour Group plc. acquired Hi-End Limited

The Hi-End Limited is a home automation retail business with many clients from the music and film industry. The Hi-End Group has been acquired by Armour Group plc for £1.75 million. M&A International Inc. advised The Hi-End Group.

Euro Color Sp. z o.o. - raising finance for expansion of retail chain


London, UK


Warsaw, Poland

Electronics

In June 2003 Euro Color Sp. z o.o Poland's leading distributor of photo and telecoms equipment was raising finance for expansion (the company's offer includes camera equipment made by foreign producers, including Olympus, Canon, Leica, Nikon, Sony, Vivitar, Vanguard, Lowerpro, Pre-Tec, I-Tec, Minox and Bushnell).


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Retail Deal Booklet

Bakery Services plc is an in-store bakery chain. M&A International Inc. assisted on the initial placing and admission to the AIM and remain the Group’s Nominated Adviser. M&A International Inc. advised on the demerger of its Polish business, Bakery Services Polska S.A. which trades as “coffeeheaven”.


London, UK


London, UK

Planet Organic Limited is an organic supermarket based in London. M&A International Inc. advised on its fundraising of both equity and debt finance.

Kaubamaja is a retailing company that operates three department stores and a large supermarket chain in Estonia. Kaubamaja is listed on the Tallinn Stock Exchange. In 1999, M&A International Inc. advised the company on evaluating the expansion strategy of the supermarket chain Selver. Currently Selver consists of 18 supermarkets.

GILD Bankers

Tallinn, Estonia


Hamburg, Germany

Food & beverage


Achimer Stadtbäckerei, a German bakery, was a 4th generation family-owned business located near Bremen with a modern production facility and 73 branches in and around Bremen. Backstube Siebrecht GmbH acquired the entire firm, including production facility. This was a strategic acquisition, advantages for Siebrecht being shorter delivery routes and a better regional spreading.

Bakery Services demerger of coffeeheaven

Planet Organic Ltd. fund raising through private equity

Kaubamaja supermarket chain’s expansion

Backstube Siebrecht GmbH acquired Achimer Stadtbäckerei

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Retail Deal Booklet

FrischBack GmbH sold 100% of it’s shares to a MBO Team

FrischBack is the 6th largest bakery in Germany with 270 branches in Berlin, Sachsen and Sachsen-Anhalt. 95% of the shares of a private shareholder were sold to the managing co-partner. The transaction was funded by a financial investor.


Hamburg, Germany


Dublin, Ireland

BWG Holdings Ltd €390m disposal to Triode Acquisitions UK Ltd

M&A International Inc. advised Cognetas LLP (formerly Electra Partners Europe LLP) on the disposal of BWG Holdings Ltd to a management-led buy-out team (Triode Acquisitions UK Ltd). M&A International was first appointed in early 2006 to manage a formal auction process for the disposal. However, before the formal process commenced, management approached Cognetas with a pre-emptive bid at a fair valuation.

Newhill Ltd €321m MBO of BWG backed by Electra Partners

M&A International Inc. advised Newhill Ltd in relation to its sale to and subsequent investment by Newhill's shareholders in the Electra Partners Europe-backed MBO vehicle, which successfully bid for BWG. The BWG Group comprised six businesses, which were involved in convenience retailing and wholesaling of food, drink and tobacco to independent retailers. At the time of the transaction, Newhill Ltd owned 115 Spar stores in Ireland and had net assets of €55m.

Sean O’Connor & Co Ltd sale of minority shareholding


Dublin, Ireland


Dublin, Ireland

Food & beverage

Noel Kavanagh acquired the outstanding stake in O’Connors Supervalu Supermarkets that he did not already own from his sister-in-law, Patricia O’Connor Joyce. M&A International Inc. acted on behalf of the minority shareholder, Patricia O’Connor Joyce.


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Retail Deal Booklet

Bibendum Wine Limited fundraising

Bibendum Wine Limited is a London wine merchant supplying trade and private customers with wines from throughout the world. M&A International Inc. advised Bibendum Wine on a fundraising of £2.5 million. The Australian company, International Wine Investment Fund Pty Limited, made the investment.


London, UK

Holland Corporate Finance

Amsterdam, Netherlands

Poiesz Supermarkten acquired 4 Golff supermarkets

M&A International Inc. has advised its client Poiesz Supermarkten on the acquisition of 4 supermarkets of J&W Vastgoed B.V. Poiesz is an independent family owned company founded in 1923. Poiesz operates nowadays a network of forty-nine supermarkets and forty liquor-stores in the northern part of the Netherlands, mainly the province of Friesland, and employs 2,900 people. The acquisition of the J&W supermarkets fits within Poiesz’ goal of strengthening its presence in the northern part of the Netherlands.

Whittard of Chelsea plc was acquired by Baugur Group

Whittard of Chelsea plc is a leading tea and coffee retailer with 126 shops in the UK and international online sales. M&A International Inc. was initially appointed to undertake a review of the strategic routes open to the Whittard Board, including acquisitions and joint ventures. Following an approach from Baugur Group, M&A International Inc. acted as financial and Rule 3 adviser to the Whittard Board on the sale of the company.

Tradeka Corporation and Wihuri Group merged their activities


London, UK

Merasco Capital Oy

Helsinki, Finland

Food & Beverage

Tradeka Corporation’s daily goods retail business Tradeka Ltd and Wihuri Group’s daily goods retail chains within Ruokamarkkinat Oy merged their activities and created a new strong domestic player in the Finnish retail market. Private equity company Industri Kapital was backing the deal. M&A International Inc. acted as the advisor of Industri Kapital.


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Retail Deal Booklet

As the completion of a generation change, Biva has been acquired by Odin Equity Partners and Dania Capital. The completion of the sale followed a structured auction process, led by M&A International Inc., which attracted significant interest from a large number of financial and strategic buyers. The new owners intend to continue a geographic roll-out of the Biva brand in Denmark and internationally.

Audon Partners A/S

Copenhagen, Denmark

Closa M&A

Barcelona, Spain

Filocolore has developed a build-up program to acquire several store chain assets. Filocolore is a new store chain concept for home textile products. Filocolore was created as a joint venture of several manufacturers and distributors in the sector. M&A International Inc. acted as advisor during the development and execution of a build-up process through acquisition of existing chains of shops.

Alternative Investment Market (“AIM”) listed company, John Lewis of Hungerford retails, designs and manufacturers up market kitchens, home offices and other free standing furniture. M&A International Inc. acts as Nominated Adviser to John Lewis.


London, UK

Home furnishing


Biva acquired by two private equity funds

Filocolore has bought several store chains

AIM Nominated advisor to John Lewis of Hungerford plc

GILD Bankers

Tallin, Estonia

Libra Holding UAB acquired 66% of Nabukas UAB

M&A International Inc. advised Libra Holding UAB in acquiring 66% of Narbutas & Ko’s kitchen furniture subsidiary Nabukas UAB. Narbutas & Ko sold its kitchen furniture production in order to specialize solely on office furniture. The acquiror – Libra Holding UAB – is a holding company of 9 wood processing companies in Lithuania that are all focused on export activities.

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Retail Deal Booklet

Wickes Furniture Company acquired by Sun Capital Partners

Founded in 1971, Wickes Furniture Company, Inc. is one of the nation’s leading home furnishings retailers offering a full range of furniture products and home accessories. M&A International Inc. was engaged to conduct a full sell process. Following a comprehensive marketing effort, Sun Capital Partners, a private equity group located in Boca Raton, Florida, was selected as the leading party and ultimately acquired the Company.


Los Angeles, USA

Alexander Hutton Inc.

Seatlle, USA

Aqua Quip merged with Carlson Pool & Spas

Home furnishing


This is a merger with Carlson Pool & Spas, two companies in different markets. Both companies have multiple retail locations in a broad geographic footprint. The combined product lines are swimming pools, spas, and saunas.

Audon Partners A/S

Copenhagen, Denmark

The largest Norwegian kitchen manufacturer, Norema has acquired Invita for an undisclosed amount. The transaction resulted in Norema’s establishment of an operation, a number of stores in Denmark, access for Invita’s products in the Norwegian market as well as realization of a number of other synergies in the areas of purchasing, production and marketing.

Norema acquired Invita from ITH Industri Invest

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Retail Deal Booklet

Jecklin is a major music distributor with several stores in the German part of Switzerland. Fréquence Laser with music stores in the French part of Switzerland acquired Jecklin to expand its presence into the German part of Switzerland. M&A International Inc. advised the seller.

Binder Corporate Finance

Bern, Switzerland

GILD Bankers

Riga, Latvia

Sportland is the largest sports goods and apparel retailer in the Baltics. The company also operates in Finland and Russia. M&A International Inc. advised the company’s Latvian subsidiary in its acquisition of the competing chain Baltsport.

In March 2004, Henderson Global Investors mandated M&A International Inc. to identify a target in the leisure industry and provide assistance in the negotiations. M&A International Inc. selected Vitawell, the holding company of a group composed of two sub-holdings: Montecatini Partners, which owns a chain of thermal centers and Well Net SpA, which controls a chain of Fitness centers under the brand Tonic. The aim of the project was to provide Vitawell with 15 million Euros equity to finance the development of its Fitness segment through new openings in the main Italian cities and create the conditions for the expansion of the Tonic business model in other EU countries.

Arietti & Partners

Turin/Milan, Italy


Dublin, Ireland

Leisure


Fréquence Laser acquired Jecklin

Sportland acquires Latvian sportsgoods retailer Baltsport

Henderson has acquired a controlling stake in Tonic

Jurys Doyle Hotel Group €1.25bn buy-out by JDH Acquisitions plc

Jurys Doyle Hotel Group is one of the fastest-growing hotel groups in Europe, with 35 trading properties in the UK, Ireland and USA. M&A International Inc. advised the Independent Committee of the Board of Jurys Doyle Hotel Group plc in relation to the €1.25bn public offer by JDH Acquisitions plc (a bidding vehicle controlled by the Doyle and Beatty families and Elizabeth Nelson).

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Retail Deal Booklet

Portmarnock Hotel & Golf Links Ltd €70m disposal to Capel Ltd

Portmarnock Hotel & Golf Links Ltd is a four star hotel, located eight miles from Dublin Airport and offering over 100 rooms and a full range of leisure and spa facilities. Its 180 acres of grounds contain an 18 hole Bernhard Langer designed golf links. M&A International Inc. advised the shareholders of Portmarnock Hotel & Golf Links Ltd on the negotiation of the sale and project-managed the due diligence and legal processes to completion.


Dublin, Ireland


Dublin, Ireland

Kayterm plc Stg£159m buy-out of Jarvis Hotels plc

M&A International Inc. advised Kayterm plc, a buy-out vehicle, on the Stg£159m recommended public offer for Jarvis Hotels plc, a UK publicly quoted company. Working closely with Kayterm over a complex six month process, M&A International Inc. led the structuring of the deal, including the raising of senior, mezzanine and equity finance from both UK and Irish sources, structuring the partial loan note alternative and effecting the offer by means of a Scheme of Arrangement.

Electronics Boutique divests BC Sports

Electronics Boutique Holdings Corp. is one of the world’s largest video game retailers with over 1,000 store locations and a market capitalization of $750 million. A special committee retained M&A International Inc. to divest BC Sports Collectibles, a leading sports memorabilia retailer. M&A International Inc. marketed this opportunity to a broad range of strategic and financial acquirers and completed the sale of BC Sports to an entity. M&A International Inc. also provided a fairness opinion in connection with this transaction.

TM Capital Corp.

New York, USA

Leisure


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Retail Deal Booklet

Norio Corporation, an MBI vehicle, acquired 100% of Catisa. Catisa is one of the Spanish leaders in bijouterie and jewelry products. The company was run by the 3rd generation of the founding family who were looking to introduce a professional management. M&A International Inc. acted as advisor to the company owners in finding a new general manager who led MBI to re-launch the company.

Closa M&A

Barcelona, Spain

Closa M&A

Madrid, Spain

Acquisition of several perfume store chains. Caoba, a perfume store chain of Andorran Group Pyrenees, has acquired three perfume store chains, the biggest being Espejo Hermanos, a chain of 23 stores in Andalusia.

M&A International Inc. acted as financial adviser to Loyalty Management UK Limited when it raised £25 million of equity from Warburg Pincus and £25 million of debt from Barclays Bank to launch and develop ‘Nectar’. Nectar is a reward programme for shopping in certain UK retail stores.


London, UK

Miscellaneous


Norio Corporation acquired 100% of Catisa in a MBI-deal

Perfumerias Caoba acquired three perfume store chains

Nectar fundraising

National Vision, Inc. acquired Consolidated Vision Group

National Vision, Inc. acquired by Berkshire PartnersNational Vision, Inc. is a leading optical retailer with vision centers principally within Wal-Mart store locations with limited remaining lease terms. The Board of Directors of NVI retained M&A International Inc. (MAI) to pursue strategic and financial alternatives which would enhance value and position the company for growth. MAI negotiated the strategic acquisition by NVI of Consolidated Vision Group, a portfolio company of Kelso & Co., for $88 million, creating the fourth largest U.S. optical retail chain. MAI simultaneously negotiated the sale of NVI to Berkshire Partners for $7.25 per share, representing an enterprise value of $100 million, and a 300% premium to NVI’s share price before MAI’s retention. MAI also assisted in arranging the related financing and provided a fairness opinion to the Special Committee of the Board of Directors of NVI.

TM Capital Corp.

New York, USA

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Retail Deal Booklet

Aigas Nams acquired by Penninn hf from Iceland

Aigas Nams is the largest office supplies distributor in Latvia. M&A International Inc. advised the company’s shareholders in the trade sale to Penninn hf from Iceland.

GILD Bankers

Riga, Latvia

GILD Bankers

Vilnius, Lithuania

Vision Express acquires Vilniaus Optika

Optometrijas Centrs, the Latvian franchise of Vision Express acquired a mid-sized Lithuanian optics chain Vilniaus Optika. M&A International Inc. advised Vision Express.

Arnotts plc €257.3m buy-out by Nesbitt Acquisitions Ltd

Arnotts is Ireland’s largest single department store with over 300,000 sq ft of shop floor. M&A International Inc. advised the Independent Committee of the Board of Arnotts plc in relation to the €257.3m public offer by Nesbitt Acquisitions Ltd (a bidding vehicle controlled by the Nesbitt and O'Connor families who have a long association with Arnotts plc). M&A International Inc. worked closely with the Independent Committee over a long period and successfully sought to maximise the value of the offer to shareholders.


Dublin, Ireland

Miscellaneous


The Gift Voucher Shop €16.2m private equity and debt fundraising

The Gift Voucher Shop (Total Shopping Convenience Ltd) is Ireland’s leading provider of gift vouchers including the well-known One4all brand. The funds raised were used to finance the MBO of FEXCO’s 76% shareholding in The Gift Voucher Shop, to support the roll-out of gift vouchers to 14,500 post offices across the UK and to launch a new multi-retailer electronic gift card in the UK and Ireland. €12.2m of the funding round was invested by a mix of management, private and institutional funds and the remaining €4m has been provided by way of a bank facility.


Dublin, Ireland

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Retail Deal Booklet

GUS plc (Great Universal Store), the retail and business services group decided to exit certain non-core activities. The trading assets of Vedia, the Swiss home shopping division have been sold to a senior management buy-out team. Vedia had a turnover of £ 21 million. M&A International Inc. advised the MBO team.

Binder Corporate Finance Ltd.

Bern, Switzerland


London, UK

Sparklers is a ladies shirt mail order company. M&A International Inc. assisted on its sale to the mail order company, James Meade Limited.

Watchline Versand AG is a leading, specialised German mail order company selling watches and jewellery. It owns the oldest Swiss brand of watch manufacturers “DuBois” which has more than 100 years of history. 100 % of the shares of Watchline were sold to a large privately owned mail order house called Robert Klingel GmbH & Co who was especially interested in adding new brands to their watch portfolio.


Hamburg, Germany

Holland Corporate Finance

Amsterdam, Netherlands

Nonstore retailers


M&A International Inc. advised the founders of Kortingsbon.nl on the seed capital raising of Kortingsbon. Kortingsbon.nl is an online provider of discount coupons and discounted consumer goods. With this investment the founders were able to launch their website and finance the growth of the company. The company has been very successful in the last few years and is one of the only few web-based shops from the end of the internet-bubble which is still around.

GUS sold the trading assets of Vedia to a MBO-team

James Meade Limited acquired Sparklers

Watchline Versand AG acquired by Robert Klingel GmbH

Kortingsbon.nl – seed capital raising

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Retail Deal Booklet

Home Shop Scandinavia AB acquired by Rusta AB

Home Shop Scandinavia AB ("Home Shop"), established in 1995, is an internet and mail-order company with a wide range of products. Rusta AB is a retail chain focusing on home and leisure products operating 44 stores in Sweden and continuously opening additional ones. The acquisition will give Rusta new and valuable channels, internet and mail-order, for its products to reach a wider customer base. M&A International Inc. was exclusive advisor to Home Shop in the sale to Rusta AB.

Avantus Corporate Finance

Stockhom/Gothenburg, Sweden


London, UK

Greetings Direct has been acquired by Flying Brands plc

Greetings Direct Group is a direct marketing business that sells a range of greetings cards, sending out over 15 million cards in 2006. The shareholders of Greetings Direct appointed Cavendish to manage the sales exercise and identify suitable purchasers that could deliver the right value and, at the same time, provide an excellent home for the business. Flying Brands Plc is one of the UK’s leading direct marketing companies.

Dial-a-Phone Limited sold a 49% stake to Barclays Private Equity

Dial-a-phone is the UK‘s largest mail order contact mobile telephone operator. The founding shareholders appointed M&A International Inc. to find an equity partner. A 49 % stake in Dial a Phone Limited was sold to Barclays Private Equity.

Smith+Noble acquired by Cornerstore Brands

Cavendish Corporate Finance Ltd.

London, UK


Los Angeles, USA

Nonstore retailers

Smith+Noble LLC designs and markets a wide selection of Smith+Noble® branded window treatments through easy-to-use catalogs. Desiring liquidity as well as a means for transitioning out of the business, the Company’s shareholders engaged M&A International Inc. to conduct a full sell process. The Company ultimately selected Cornerstone Brands, a portfolio of high end catalog companies. M&A International Inc. achieved all shareholders’ objectives at a premium valuation.


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Retail Deal Booklet

Country M&A International Inc. Contact E-mail

representative specialist

Argentina IB Partners Limitada Hernan Sambucetti [email protected]

Baltic States Gild Bankers Lauri Isotamm [email protected]

Belgium Capital Advice NV. Alex Vandekerckhove [email protected]

Brazil IB Partners Limitada Gianni Casanova [email protected]

Chile IB Partners Limitada Willie Martin [email protected]

Denmark Audon Partners A/S Henrik Audon [email protected]

Finland Merasco Capital Ltd. Leif Ekström [email protected]

Germany Angermann M&A International GmbH Dr. Lutz Becker [email protected]

Ireland IBI Corporate Finance Limited Jacinta Garrihy [email protected]

Italy Arietti & Partners Elisa Radaelli [email protected]

Japan Morgen, Evan & Company Inc. Tom Eastling [email protected]

Netherlands Holland Corporate Finance Marc van de Put [email protected]

Norway Bridgehead AS Trygve Graff-Wang [email protected]

Poland Poland Corporate Finance Bill Fawkner-Corbett [email protected]

Russia Solid Invest Grigory Dudarev [email protected]

Slovenia Publikum d.d. Drago Kavsek [email protected]

Spain Closa Corporate Finance Advisors José F. Álvarez [email protected]

Switzerland Binder Corporate Finance Limited Konrad Althaus [email protected]

United Kingdom Cavendish Corporate Finance Limited Paul Herman [email protected]

Smith & Williamson Coporate Finance Limited Suzanne Allan [email protected]

Retail group specialists

USA Atlanta TM Capital Corp. Alex Mammen [email protected]

Chicago MASI, Ltd. Jack Campbell [email protected]

Cleveland The Transaction Group, Inc. Warren P. Coleman [email protected]

Miami Capitalink L.C. Barry E. Steiner [email protected]

New York Morgan, Evan & Company Inc. John Mondoloni [email protected]

Richmond Matrix Capital Markets Group Spencer Cavalier [email protected]

Seattle Alexander Hutton Inc. Tom McDowell [email protected]

your local contact: m&a international inc. this booklet was compiled by the m&a...

Documents

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ma international retail

international retail

retail sector

retail deal booklet

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international capability

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