Merger Mania
May 1, 2006 12:00 PM
Jones Apparel Group and Michaels Stores are the latest retailers on the block. Here's how recent retail deals have priced out. It also details the massive role private equity has played in the industry in recent years.
| Date | Acquired Company | Buyer | Transaction Value | Enterprise Revenues | EBITDA |
|---|---|---|---|---|---|
| Jan-06 | Burlington Coat Factory | Bain Capital | $2.06 billion | 0.6X | 7.6X |
| Jan-06 | Albertsons | Supervalu, CVS, Cerberus, et. Al. | $17.4 billion | 0.7X | 7.3X |
| Dec-05 | Tommy Hilfiger | Apax Partners | $1.6 billion | 0.9X | 8.3X |
| Nov-05 | Linens 'n Things Inc. | Apollo Managemetn LP | $1.3 billion | 0.5X | 7.9X |
| Oct-05 | Saks' Northern Department Store Group | Bon-Ton Stores | $1.2 billion | 0.5X | 8.3X |
| Oct-05 | Goody's Family Clothing Inc. | Prentice Capital | $318 million | 0.3X | 13.2X |
| Oct-05 | ShopKo Stores Inc. | Sun Capital Partners | $1.0 billion | 0.3X | 5.5X |
| Sep-05 | Party City Corp. | Bershire, Weston Presidio | $360 million | 0.7X | NA |
| May-05 | Neiman Marcus Group Inc. | Texas Pacific Group, Warburg Pincus | $5.1 billion | 1.4X | 10.2X |
| Apr-05 | Brookstone | OSIM International, JW Childs | $448 million | 0.9X | 8.8X |
| Apr-05 | Profitt's and McRae's Department Stores | Belk's | $622 million | 0.9X | 13.7X |
| Mar-05 | Toys ‘R’ Us | Bain Capital, Vornado Realty Corp. | $7.1 billion | 0.6X | 10.7X |
| Feb-05 | May Department Stores | Federated Department Stores | $16.9 billion | 1.2X | 8.8X |
| Nov-04 | Kmart | Sears | $11 billion | 0.3X | 9.3X |
| Nov-04 | Mk One | UK Investor Group | $102 million | NA | NA |
| Nov-04 | Barneys New York Inc. | Jones Apparel Group Inc. | $400 million | 0.8X | 8.0X |
| Oct-04 | Disney Store North America | Children's Place Retail Stores | NA | NA | NA |
| Sep-04 | Eastern Mountain Sports Inc. | Private investor group | NA | NA | NA |
| Jul-04 | Spyder Active Sports | Apax Partners | $100 million | 1.6X | 9.8X |
| Jun-04 | Marshall Field's | May Department Stores | $3.2 billion | 1.3X | NA |
| Jun-04 | Ben Sherman Ltd. | Oxford Industries | $146 million | 0.9X | 6.3X |
| Jun-04 | Maxwell Shoe Co. | Jones Apparel Group Inc. | $346 million | 1.4X | 11.6X |
| Jun-04 | Galyans Trading Company Inc. | Dicks Sporting Goods Inc. | $362 million | 0.5X | 10.5X |
| Apr-04 | Vans Inc. | VF Corp. | $396 million | 1.1X | 18.1X |
| Mar-04 | Maidenform | Ares Management LLC | $215 million | 0.7X | 6.9X |
| Mar-04 | DC Shoes | Quiksilver | $122.1 million | 1.1X | 11.3X |
| Feb-04 | Joseph Abboud | J.W. Childs | $73 million | 0.9X | 5.6X |
| Jan-04 | Anchor Blue | Sun Capital Partners | NA | NA | NA |
| Jan-04 | Phat Farm | Kellwood Co. | $160 million | 0.6X | 5.7X |
| Sources: Securities Data Corp., Citigroup, Company Reports | |||||
