AllSaints has finally been sold to a consortium led by Lion Capital, it has been reported.
According to Sky News, the deal was signed at 2am today.
It was reported that the terms of the deal, which values AllSaints at £105m, were changed at the eleventh hour.
The new deal means AllSaints founder Kevin Stanford will own 15% of the company. Lion will own 65%, rather than the 75% previously thought. US investor Goode Partners will own 11% and the company’s management, led by chief executive Stephen Craig, will own 9%.
Goode also has an option to acquire up to 11% of Lion’s shareholding in future.
AllSaints has been up for sale since early this year, and several potential suitors have walked away from any deal.