TA partially exits Cath Kidston

Baring Asia now contols an equal holding with TA. The pair will partner with Cath Kidston's management team to expand the business into Asia.

Previous investment
TA acquired a majority stake in Cath Kidston in April 2010 in a deal that valued the company at around £100m.

Company
Established in 1993, Cath Kidston operates 166 stores throughout the UK, China, France, Hong Kong, Indonesia, Japan, Malaysia, Singapore, Taiwan, Thailand and recently in South Korea. The business sells a range of womenswear, childrenswear and home furnishings.

In the year to 30 March 2014, Cath Kidston reported sales of £116m with EBITDA totalling £25m.

People
Dar Chen is managing director of Baring Asia. Christopher Parkin is managing director of TA. Kenny Wilson is CEO of Cath Kidston.

Advisers
Vendor – UBS (Corporate finance).

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