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Cath Kidston plots £250m sale

Womenswear and homewares retailer Cath Kidston is being primed for a £250m sale after private equity firm owners TA Associates drafted in investment bank UBS to explore options for the retailer.

A day after Cath Kidston opened its largest-ever shop on Piccadilly, London, its owner, TA Associates, which is thought to have paid £100m for a majority stake in the retailer in April 2010, is planning to put the company up for sale next year.

Sky News said a price tag of more than £250m is likely and interest is expected from private equity firms, sovereign wealth funds, pension funds and other retailers.

Cath Kidston reported a 19% rise in sales to £105m in the year to March 31 2013, with EBITDA up 13% to £21m.

The retailer, which yesterday opened a three-floor flagship next to Fortnum & Mason on Piccadilly, has proved a success overseas, with shops in China, Hong Kong, Japan, Korea, Taiwan and Thailand.

A statement from the company read: “Cath Kidston is growing rapidly and has exciting plans to capitalise on the international appeal of its brand.  In these circumstances it is prudent that the company and its owners should carefully assess the options available to take the company through the next stage in its evolution and UBS has been appointed to help.”

 

Readers' comments (1)

  • So why will anyone buy it? There is not enough extra value. It is over exposed everywhere. What hasn't been exploited which is worth anywhere near this price?

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