Alteri Investors is reportedly in discussions to acquire Kurt Geiger from Cinven.
- The talks are in preliminary stages and not exclusive, according to Sky News.
- Cinven began exploring the sale of Kurt Geiger in October 2023 with Bank of America.
- Kurt Geiger is valued at £400 million, despite economic challenges.
- Alteri previously owned part of Missguided before its sale to Frasers Group.
In recent developments, Alteri Investors, backed by Apollo Investment, is said to be engaging in negotiations to purchase Kurt Geiger from its current owner, private equity firm Cinven. The speculative discussions, highlighted by Sky News, are reportedly in the early stages and lack exclusivity.
The initiation of Kurt Geiger’s sale process dates back to October 2023, when Cinven appointed Bank of America to manage an auction for the renowned footwear and accessories brand. Valued at £400 million, Kurt Geiger has shown resilience, achieving record sales figures despite the prevailing tough economic conditions.
Alteri Investors has a notable history, having owned a 50% stake in the fast-fashion retailer Missguided between December 2021 and June 2022. Subsequently, Missguided was sold to Frasers Group for £20 million, and later acquired by Shein in October 2023. Notably, Alteri has chosen not to comment on the current proceedings.
The potential acquisition reflects a strategic move within the retail investment landscape amidst ongoing economic challenges. Alteri’s previous involvement with Missguided demonstrates its interest in leveraging opportunities within the fashion industry.
The outcome of Alteri Investors’ potential acquisition of Kurt Geiger remains to be seen, with talks still at an initial stage.
