Bestseller to buy M and M for up to 140 million pounds

By Indian Retailer Bureau

 

Danish fashion group Bestseller has inked deal to buy M and M Direct Ltd,  British online and mail order retailer, from its private equity owners for up to 140 million pounds ($235 million).

 

M and M is owned by global growth private equity firm TA Associates since 2007. 

 

The sale is contingent upon standard regulatory clearance and is expected to be completed within eight weeks. Additional terms of the agreement were not disclosed.

 

M and M is one of Europe’s leading online and mail order retailers of discounted lifestyle, fashion and sports apparel and footwear. 

 

The company has dedicated local market websites covering the UK, German, French, Austrian, Dutch and Polish markets, and also serves more than 20 additional countries worldwide.

 

The shareholders in M and M were advised by Canaccord Genuity Limited and Macfarlanes LLP.