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

Peacocks considers appointing advisers for potential sale

The owners of Peacocks Group are understood to be considering appointing advisers to examine the value business’ options as it considers a possible sale.

Shareholders including US hedge fund Och-Ziff, Perry Capital and Goldman Sachs’ private equity division, are poised to appoint an investment bank in the coming weeks, according to the Sunday Times.

Peacocks, which comprises the eponymous value chain and the mature womenswear chain Bonmarche, was taken private for about £400m in December 2005 by a consortium led by Och-Ziff and Perry Capital.

The group attempted an £800m sale or refinancing of the business in 2007 but the plans were scuppered by the credit crunch. At the time potential bidders are understood to have included Bahrain investment fund Arcapita and private equity houses PAI and Cinven.

Instead, shareholders invested to fund expansion, with a £20m cash injection at the end of 2008 from Och-Ziff and Perry Capital.

Peacocks has 524 stores and will open 40 stores in 2010 to 2011, compared with 30 in the previous financial year. It has 70 overseas franchises.

A Peacocks spokesman said: “Peacocks is an excellent business trading strongly. Shareholders keep all options under review on how best to build on this success, but no decisions have been taken.”

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.