3i makes a 2x return on the sale of its stake in Soyaconcept
3i Group plc (“3i”) today announces it has agreed to sell its minority stake in Soyaconcept (“the Company”), the leading value for money female clothing wholesaler, back to its co-founders.
Total proceeds, in sterling terms, to 3i Group represent a 2x money multiple on its original investment. The investment was valued on an imminent sales basis at 31 December 2014.
3i acquired a minority stake in Soyaconcept in 2008 to support its international expansion plans and facilitate a smooth generational transition. The Company has performed very well in a challenging consumer environment and has successfully executed its ambitious plans, led by a strong and dedicated management team.
In particular, the Company’s international sales have grown strongly. With 3i as an investor, Soyaconcept has expanded its international presence and it is now active in Denmark, Sweden, Norway, Finland, Holland, Belgium, Spain, Iceland, Austria, Switzerland, Poland and Canada.
Mattias Eklund, Partner and co-head of the Nordic region, 3i Group, commented:
“Soyaconcept has demonstrated that it has a strong business model by achieving significant growth in recent years, including expansion into a number of new markets. It has been a pleasure to work with the excellent management team, as well as the former Chairman Gustaf Örhn. We are confident that the team will continue to deliver great value for money for its customers and develop the Company through further international growth.”
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For further information, contact:
3i Group plc
Kathryn van der Kroft
Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com
Latika Shah
Tel: +44 20 7975 3157
Email: latika.shah@3i.com
Notes to editors:
About 3i Group
3i is a leading international investment manager focused on mid-market private equity, infrastructure and debt management across Europe, Asia and North America. For further information, please visit: www.3i.com
About Soyaconcept
Soyaconcept is a leading female fashion company operating in several countries around the world.
For further information, please visit: www.soyaconcept.com
Regulatory information
This transaction involved a recommendation of 3i Investments plc, advised by 3i Sweden.