M and M Direct Announces Agreement to be Acquired by BESTSELLER
LONDON - M and M Direct Ltd (“M and M”) today announced it has signed a definitive agreement to be acquired by BESTSELLER for up to £140 million. M and M has been owned by global growth private equity firm TA Associates since 2007. The sale is contingent upon standard regulatory clearance and is expected to be completed within eight weeks. Additional terms of the agreement were not disclosed.
M and M is one of Europe’s leading online and mail order retailers of discounted lifestyle, fashion and sports apparel and footwear. The company has dedicated local market websites covering the UK, German, French, Austrian, Dutch and Polish markets, and also serves more than 20 additional countries worldwide.
The shareholders in M and M were advised by Canaccord Genuity Limited and Macfarlanes LLP.
About M and M Direct Ltd
M and M Direct Ltd is the UK’s leading purchaser of end-of-line clearance for fashion and sports products. As an online and mail order retailer, M and M offers sports and fashion apparel and footwear for men, women and children, at substantial discounts. The company has more than 1.3 million active customers and 50 million website visits a year. M and M was founded in 1987 and is headquartered in Leominster. More information can be found at www.mandmdirect.com.
BESTSELLER provides affordable fashion for women, men, teenagers and children. BESTSELLER markets their products in most of Europe, the Middle East, Canada, India and globally via e-commerce. The company has more than 3,000 chain stores across 38 markets worldwide and the products are sold in approximately 12,000 multi-brand and department stores in 53 markets worldwide. More information can be found at www.bestseller.com.
About TA Associates
TA Associates is one of the largest and most experienced global growth private equity firms. The firm has invested in more than 440 companies around the world and has raised $18 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries. More information about TA Associates can be found at www.ta.com.