Kurt Geiger sold to Cinven for $372 million
Sycamore Partners has sold the British footwear retailer Kurt Geiger to European private equity firm Cinven for 245 million pounds, or $372 million at current exchange, according to the Financial Times in London.
The deal would mark Cinven’s first accessories buy. The FT said Kurt Geiger power duo Neil Clifford and Rebecca Farrar-Hockley would remain on board.
Cinven would become Kurt Geiger’s third owner in four years. The company was sold to The Jones Group in 2011 for $350 million. Last year, Sycamore Partners acquired the firm as part of its acquisition of Jones, which had been struggling.
Sycamore immediately unloaded Stuart Weitzman, selling it to Coach for $574 million early this year.