L Catterton Polishes RM Williams, Ready to Give It The Boot
Last edited 16/05/2019 - 14:27 by 1 other user
Extract from the AFR today:
Legendary Australian riding boots and clothing manufacturer and retailer, RM Williams, is being readied for sale in a deal that could fetch its shareholder as much as $500 million. Street Talk can reveal RM Williams' private equity owner, Singapore-based L Catterton Asia, has hired investment bank Goldman Sachs to drum up buyer appetite and auction the business in coming months. RM Williams is expected to be pitched to global apparel and fashion houses, as well as large domestic and offshore private equity firms that could help realise RM Williams' global expansion plans. It is expected to be pitched as a $400 million to $500 million company, with 50-odd shopfronts and more than 500 multibrand retail locations in Australia and a growing presence offshore.
Looks like the 'Australian' brand we all love at Ozbargain is going to change hands again from its current Singaporean owners. Don't know about you guys, but I've noticed a drop in quality of these boots, partly due to a Private Equity firm being notorious for cutting costs, making an operation a more lean machine and flipping it over to a new owner.