Investec advises Mr Price on acquisition of Studio 88 from RMB Ventures

Investec acted as the financial advisor and transaction sponsor to Mr Price, a JSE listed fashion-value retailer, on the acquisition of 70% of Blue Falcon Trading 188 (Proprietary) Limited, which owns the Studio 88 group of businesses (Studio 88 Group), from RMB Ventures and current management in a deal valued at R4.7 billion (about $325.2 million) on an enterprise value basis. The remaining shareholding will be acquired in the four years subsequent to the implementation of the initial acquisition.

The brands offered by the Studio 88 Group are complementary to Mr Price’s existing customer positioning and, combined, would deliver on the group’s strategic positioning across the fashion-value and aspirational value segments. With a diverse store footprint and a portfolio of differentiated store chain formats, the Studio 88 Group has broad appeal to aspirational and trend conscious customers across a wide range of age profiles and affordability levels. Mr Price will benefit from growth opportunities in the menswear segment where it is currently under-represented.

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