OpCapita buys leading designer womenswear retailer AppelrathCüpper

New owner plans to accelerate existing growth strategy, focusing on core retail operations, an expansion of the store network and an integrated multi-channel approach

Current owners Advent International and Kreke Family: “In OpCapita we have found an investor with significant retail sector experience, who will support AppelrathCüpper’s management team in driving growth going forward.”

Frankfurt/London, May 31, 2016 – OpCapita Consumer Opportunities Fund LP (‘‘the Fund’’), advised by OpCapita LLP (‘‘OpCapita’’), the European private equity partnership, today announced the signing of an agreement to acquire Reiner AppelrathCüpper Nachf. GmbH (‘‘AppelrathCüpper’’ or the ‘‘Company’’), a leading designer womenswear retailer in Germany.
The Fund is acquiring the Company from Moda Holding GmbH, a holding company jointly held by the Kreke Family and funds managed by Advent International.

AppelrathCüpper operates 13 stores across key cities in Germany selling high-end brands including Hugo Boss, Marc Cain, Burberry, Armani Collezioni, Tommy Hilfiger and Marco Polo as well as its own private label range.

OpCapita plans to drive the future growth and development of the Cologne-based retailer in close collaboration with the Company’s long-standing management team. Under new ownership, the Company will accelerate its existing strategy to enhance its existing retail footprint, expand its premium brand concept, open new stores and enhance the integration of online and offline sales channels.

John von Spreckelsen, Chairman and operating partner at OpCapita, said: ‘‘We are delighted to be acquiring AppelrathCüpper. The Company is well known for consistently delivering a high quality product offering and service to its loyal customer base. We plan to work closely with the management team to invest in and grow the business.’’

Frank Rheinboldt, CEO of AppelrathCüpper, said: ‘‘Our collaboration with Advent International and the Kreke Family has been characterised by a trusting relationship and hands-on support in our operational development, such as the roll-out of our online shop in September 2015. We are very pleased to have OpCapita as a new investor to work with us to execute on our growth plans. We know the considerable retail sector experience that they bring, and we look forward to working with them.’’

Dr Henning Kreke, a representative of the Kreke family, said: ‘‘We are delighted that we found a strong partner to further grow AppelrathCüpper’s business. OpCapita has the experience and commitment to support the Company’s strategy and strengthen its position as a leading multi-brand womenswear retailer in the German market.’’

The transaction is OpCapita’s second acquisition in the German market in three years, following the acquisition of NKD in 2013.

The transaction is subject to final approval from the German and Austrian competition authorities.

About AppelrathCüpper

Founded in 1882 in Aachen, AppelrathCüpper is a leading multi-brand apparel retailer with 13 stores in key cities in Germany. The company is the only large-scale designer retail chain in Germany that focusses exclusively on womenswear. The retailer has a premium offering and ambience in its stores, delivering top quality service and advice through its 870 employees. AppelrathCüpper offers a wide variety of top European brands through its network of prime retail locations, its user-friendly online shop and attractive loyalty programme.

For more information, visit:  www.appelrath.com

About OpCapita

Founded in 2006, OpCapita is a European private equity firm specialising in the retail, consumer and leisure industries. OpCapita actively invests in companies where there is an opportunity to deliver improvements in profitability and create long – term, sustainable value.

OpCapita’s team of in-house operating partners has decades of experience in consumer-facing businesses and a widespread network of contacts and specialists. The team adopts a hands-on approach to the companies in which it invests, drawing on exceptional management talent to deliver on its investments.

Over the past ten years, OpCapita has invested over €450 million in businesses in the UK, France, Germany and Spain. OpCapita closed its first dedicated fund, OpCapita Consumer Opportunities Fund LP, at the end of 2014.

For more information, visit:  www.opcapita.com

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in more than 300 private equity transactions in 40 countries and, as of December 31, 2015 has €27 billion in assets under management. With offices on four continents, Advent has established a globally integrated team of over 170 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services;  healthcare; industrial; retail, consumer and leisure; and technology, media and telecom.

After more than 30 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

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