M&A

M&A

V-Mart Retail acquires 74 stores & assets of ‘Unlimited' from Arvind Lifestyle for over Rs.150-C

BSE Disclosure  

Gurugram-based, publicly listed fashion retailer V-Mart Retail Ltd is to acquire all the existing running stores of ‘ Unlimited' from Arvind Lifestyle Brands Ltd (ALBL), a wholly owned subsidiary of Arvind Fashions Ltd (AFL), for cash consideration. As part of the transaction, V-Mart will acquire the assets of all stores, warehouse, inventory as well as the store brand ‘Unlimited' at their book value, with an estimated outlay of about INR 150 crore at closing, and certain contingent payments based on certain milestones achieved in these stores over next few years, post the acquisition. Metta Capital acted as an exclusive financial advisor and Saraf and Partners acted as legal advisor to V-Mart for this transaction. Unlimited operates a chain of 74 value fashion retail stores across South and West India and retails fashion apparel and accessories for men, women and children at affordable prices. Through the deal, V-Mart will be debuting into South India.

From the Venture Intelligence PE-VC Deal Database: In Oct-16, Multiples PE had invested more than INR 770 crore in Arvind Fashions (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)