Baring Asia Acquires Stake Of Cath Kidston From TA Associates

Asian private equity firm Baring Private Equity Asia says it has acquired a substantial stake in U.K.-based global lifestyle brand company Cath Kidston from its existing majority shareholder TA Associates and members of the company’s management team, according to an announcement made by Baring.

Specific deal size and other details of the transaction were not disclosed.

Baring will have equal ownership of Cath Kidston with TA post transaction. It will also partner with TA and the current management team to expand the brand in Asia.

"Cath Kidston is an established and profitable brand and, with strong underlying trends in consumer demand across Asia, we look forward to further developing the brand across the region," says Dar Chen, managing director at Baring.

Founded in 1993 with a single shop in London’s Holland Park, Cath Kidston is operates stores in China, France, Hong Kong, Indonesia, Japan, Korea, Malaysia, Singapore, Spain, Taiwan, Thailand and the U.K.

Known as the "home of modern vintage", the brand offers a range of products from accessories and women-swear to children-swear and home furnishings.

In the year ended March 30, 2014, the company’s sales increased 10% to £116 million (US$198 million). International retail sales increased 37% to £46 million (US$78.5 million).

Baring manages over US$5 billion with a pan-Asian investment mandate, specializing in mid-cap buyouts and providing growth capital to companies for expansion or acquisitions.

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