MandM Direct which is owned by US private equity firm TA Associates is understood to be planning an initial public offering (IPO) that will value the discount sports and casual clothing business at between £140m and £170m. The business has named Alan White, former N Brown Group CEO as its chairman and is headed by Jonathon Brown as CEO.
MandM Direct was founded in 1987 to sell branded end of line clothing at deeply discounted rates to UK consumers, producing regular catalogues and, later, selling online as well as developing a small number of its own brands. The business now operates local sites in France, Germany, Ireland, the Netherlands, Austria and Poland, in addition to its UK business, and is planning further international development.
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