Paris, 19 November 2012 – Altamir Amboise has committed to its second investment outside of French-speaking Europe via its investment in Apax VIII, a private equity fund advised by Apax Partners LLP, the global private equity firm. Apax Partners LLP has entered into a definitive agreement to acquire Cole Haan LLC, a leading designer and retailer of premium footwear and related accessories, from NIKE, Inc. for $570m in cash. The transaction is expected to close in early 2013.
For the Cole Haan acquisition, Apax Partners LLP is partnering with Jack Boys, who led the revitalisation of Converse into a fast-growing global lifestyle brand. During Mr Boys' tenure as CEO, Converse achieved significant growth in sales from $150m to over $1bn.
Apax Partners LLP has extensive experience in fashion apparel, footwear and accessories through current and previous investments. The investment in Cole Haan is based on the assessment of the brand as iconic, with broad consumer appeal, and the potential for greater growth opportunities in the future, both in the U.S. and internationally.
Cole Haan constitutes the second investment outside of French-speaking Europe in which Altamir Amboise will participate. The size of Altamir Amboise's participation in Cole Haan, and in all investments made by the Apax VIII fund, will be four to five times smaller than investments made via Apax France VIII-B. This is due to: 1) the different commitment levels made to each fund, a commitment of up to €90m in Apax VIII, versus a commitment of up to €280m in Apax France VIII-B; and 2) the number of investments expected to be made by each fund, 20 in Apax VIII, versus 12 to 15 in Apax France VIII-B.
To read the Apax LLP and NIKE Inc. press releases, please go to the following links: http://www.apax.com/news/apax-news/2012/november/apax-agrees-to-acquire-cole-haan.aspx
* Through funds managed by Apax Partners LLP
About Altamir Amboise
Altamir Amboise is a listed private equity company with approximately €500 million in assets under management. The objective of Altamir Amboise is to grow its net asset value (NAV) and to outperform the most relevant indices (CAC Mid & Small, and LPX Europe).
Altamir Amboise invests through the funds managed by Apax Partners France, a leading private equity firm in French-speaking Europe, and through Apax Partners LLP, one of the world's leading private equity investment groups. Both firms target buyout and growth capital investments in which they are majority shareholders or lead investors, and help management teams to implement ambitious value creation plans.
Altamir Amboise provides access to a diversified portfolio of fast-growing companies across Apax's sectors of specialization: Technology, Media, Telecom, Retail & Consumer, Healthcare, and Business & Financial Services. The portfolio is also diversified by size and geography: mid-sized companies in French-speaking European countries; and larger companies across Europe, North America and key emerging markets (China, India, Brazil).
Altamir Amboise is listed, since its inception in 1995, on the NYSE Euronext Paris exchange, Compartment B, ticker: LTA, ISIN code: FR0000053837. It is listed on the CAC Small, CAC Mid & Small, CAC All-Tradable and LPX Europe indices, among others. The total number of Altamir Amboise ordinary shares in circulation at 30 June 2012 was 36,512,301. For further information, please visit www.altamir-amboise.fr
About Apax Partners LLP
Apax Partners is one of the world's leading private equity investment groups. It operates globally and has more than 30 years of investing experience. Funds under the advice of Apax Partners total over $35 billion around the world. These Funds provide long-term equity financing to build and strengthen world-class companies. Apax Partners Funds invest in companies across its global sectors of Tech & Telecom, Retail & Consumer, Media, Healthcare and Financial & Business Services. For further information about Apax LLP, please visit: www.apax.com
About Cole Haan LLC
Cole Haan, headquartered in New York, is an iconic American designer and retailer of premium men's and women's footwear, apparel and accessories. Founded in 1928, Cole Haan's brand represents craftsmanship, style and innovation. The Company sells through leading department stores, 108 domestic Cole Haan stores, 68 international stores across Canada, China and Japan, and on its online site www.colehaan.com. Cole Haan has been a wholly-owned affiliate brand of NIKE since 1988.
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