Bridgepoint has signed a binding agreement to acquire Fat Face
from Advent International in a transaction totalling £360
million. Fat Face, which is forecast to have £111m of
turnover and run rate EBITDA of £30.4m for the year ended 31
May 2007, operates a multi-channel model which includes 128 owned
retail stores, mail order catalogues and an internet store. It
has over 1,500 employees.
Fat Face will continue to be led by the incumbent CEO Louise
Barnes and financial director, Stuart Owens who, along with the
rest of the management team, will be reinvesting in the business.
Alan Giles, who was appointed in October 2006, will remain as
non-executive chairman of the business. Louise Barnes commented,
“This marks the completion of a successful two years under
Advent’s ownership and recognises the great potential for this
exciting brand and, together with Bridgepoint, we firmly believe
we can bring our plans for the future to life.”