UK private equity firm Lion Capital eyes takeover of Kurt Geiger: Sky News

(Reuters) — British private equity firm Lion Capital, former owner of high-end footwear designer Jimmy Choo, is considering returning to the upscale footwear market with a takeover of luxury shoe retailer Kurt Geiger, Sky News reported citing people familiar with the matter. Lion Capital, who along with a number of bidders presented initial offers on Monday, is believed to have received financial information about Kurt Geiger and may value the brand at about 250 million pounds ($379.28 million), Sky News said. Earlier this year, Kurt Geiger hired Goldman Sachs (GS.N) to explore a sale of part or all of the business, and even issue an initial public offering. Kurt Geiger was sold to Jones Group in 2011 for $350 million, including debt. However, following pressure from activist hedge fund manager Barington Capital, Jones Group sold itself to U.S. private equity firm Sycamore Partners for $2.2 billion, thereby making Sycamore the owner of Kurt Geiger. Lion Capital and Kurt Geiger could not be reached for comment outside regular UK business hours. Sycamore Partners could not be immediately reached for comment.

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UK private equity firm Lion Capital eyes takeover of Kurt Geiger: Sky News