Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Apax buys German value retailer Takko

Apax, the private equity company behind value retailer New Look, has acquired German value clothing company Takko Fashion.

Apax bought Takko from US private equity business Advent International for an undisclosed sum. Sources told newswires that Apax would acquire Takko for about €1.3bn (£1.1bn). The deal is set for completion in the spring.

Takko has about 1,500 stores in 15 European countries and employs about 12,500 people.

In the year to October, Takko said EBITDA was €171m (£145m) on a turnover of about €1bn (£849m).

Takko opened 500 stores in the last four years and debuted in nine new markets.

Christian J. Näther, partner at Apax Partners, said: “Apax’s investment focus is on growth companies. We fully support the successful management team, led by chief executive Stephan Swinka, in pursuing its chosen growth course.

“Takko offers attractive fashion at affordable prices and is exceptionally well positioned to benefit from the above average growth of the value segment of the fashion market. We regard the Takko concept as having enormous potential for expansion, but also further opportunities for sales productivity growth.

Takko will continue to roll out stores in Germany and overseas. It is unclear whether it will come to the UK.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.