Gilbert + Tobin advises Country Road Limited
2nd August 2012
Gilbert + Tobin is pleased to announce its involvement with fashion retailer Country Road on its acquisition of Witchery and Mimco for an enterprise value of $172 million.
The acquisition is being funded through a combination of debt financing and a renounceable rights offer. Gilbert + Tobin has advised Country Road on all aspects of the transaction.
“We’re delighted to have helped Country Road on this transformative transaction” said Hiroshi Narushima. “The combination of the Country Road, Trenery, Witchery and Mimco brands under the one fashion house creates scale and demonstrates confidence in the outlook for retail in Australia.”
The CFO of Country Road, David Thomas said “We’re very excited to have executed on this complex transaction. It’s evolved over several months and Gilbert + Tobin has partnered with us to help drive and close out the deal. I’m proud of the way my team has worked with theirs and this is an exciting time for the business.”
Corporate Advisory partners Hiroshi Narushima and Janine Ryan and Finance partner James Lewis led the team and were supported by lawyers Alex Brown, Ilona Roze, Spiro Papadolias and Tom Coates.
Country Road is one of Australia’s leading fashion retailers and on completion of this acquisition will have over 500 stores and over 4,500 employees across Australia, New Zealand, South Africa and Singapore.
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