Boohoo.com plc completed the acquisition of 66% stake in PrettyLittleThing.
January 03, 2017
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Boohoo.com plc (AIM:BOO) agreed to acquire 66% stake in PrettyLittleThing for £3.3 million in cash on December 14, 2016. The remaining 34% will be used to incentives CEO Umar Kamani and PLT's senior management who have overseen exceptional revenue growth since 2014. The 34% retained by PLT management will be subject to the management team remaining with PLT over the five-year period to February 28, 2022, and achieving demanding revenue and EBITDA targets. At 28 February 2022, the boohoo Group will have the option to acquire this remaining 34% at market value. The transaction expected to close on January 3, 2017. Phil Adams, Paul Lines and Jon Stead of GCA Altium Limited and Alice Gardner, Stephen Devlin, Nathan Williams, Jessica Foster and Nicola Morgan of TLT LLP acted as legal advisors whereas Nick Cowles, Andrew Jones, John Goold and Benjamin Robertson of Zeus Capital Limited acted as financial advisor, Nick Adams and Max Jones of Jefferies Hoare Govett acted as joint broker while Richard Oldworth, Madeleine Seacombe and Jane Glover of Buchanan acted as public relation advisor for Boohoo.com plc. Tim Hamilton, Craig Geraghty, Brogan Pani and Jack Harrington of Pannone Corporate LLP acted as legal advisor to PrettyLittleThing.
Boohoo.com plc (AIM:BOO) completed the acquisition of 66% stake in PrettyLittleThing on January 3, 2017.
Boohoo Group Plc is a United Kingdom-based holding company that operates through its subsidiary, which undertakes online clothing retailers. The Company designs, sources, markets and sells clothing, shoes, accessories and beauty products. Its segments include the United Kingdom, Rest of the Europe, the United States and the Rest of the world. It owns various brands, such as boohoo, boohooMAN, PrettyLittleThing, Nasty Gal, MissPap, Karen Millen, Coast, Oasis, Warehouse, Debenhams, Dorothy Perkins, Wallis, and Burton. Its brands design, source, market and sell clothing, shoes, accessories and beauty products targeted at 16 to 40-year-old consumers in the United Kingdom and internationally. The Company's wholly owned subsidiary is Boohoo Holdings Limited.