L Catterton Asia Selling RM Williams
In this article (5)
L Catterton Asia, the Singapore-based private equity firm, is set to sell its stake in Australian luxury footwear retailer RM Williams.
The investment company, controlled by LVMH Group and the Arnault family, has put the business up for sale for US$500 million.
If successful, the sale would mark the second major retail sector divestment by the fund in recent months, after it sold down its 58.86 percent stake in Chinese mall operator Sasseur Cayman Holding to just 1.36 percent.
The RM Williams sale will be managed by investment bank Goldman Sachs.
L Catterton currently owns 82 percent of the business, up from its initial 49 percent investment back in 2014.
The other shareholders are IFM Investors, which manages not-for-profit superannuation investment funds, and actor Hugh Jackman.
RM Williams has about 50 retail stores in Australia and London and exports to about 15 countries with a network of about 900 stockists. It was founded in 1932.
Questions & Answers
Q.What is the asking price for RM Williams?
What is the asking price for RM Williams?
The business has been put up for sale for US$500 million. Investment bank Goldman Sachs will manage the sale process.
Q.How large is RM Williams' retail footprint?
How large is RM Williams' retail footprint?
RM Williams has approximately 50 retail stores in Australia and London. It also exports to about 15 countries, supported by a network of approximately 900 stockists.
Q.Has L Catterton Asia made other recent divestments in the retail sector?
Has L Catterton Asia made other recent divestments in the retail sector?
Yes, this would be their second major retail sector divestment in recent months. They previously sold down most of their stake in Chinese mall operator Sasseur Cayman Holding.
Reader pulse
What does L Catterton's divestment of RM Williams indicate?
21,325 votes so far