Black Toro buys Forecast

Forecast's management team will stay on with the business and collaborate with Black Toro to lead the company in its new phase of growth.

The GP deployed capital from its BTC Fund II to finance the acquisition. The vehicle, launched in 2015, held a final close in February 2017 on €235m. It targets mid-sized Spanish companies with the opportunity to expand internationally, and deploys equity tickets between €20-50m. The fund is more than 80% deployed.

Black Toro intends to integrate Forecast with recently acquired Spanish apparel retailer Amichi, Unquote understands.

Black Toro acquired a majority stake in Amichi for €15m in September 2017. The company, founded in 1985 and based in Madrid, designs, manufactures and sells clothing and accessories, mainly for women. It manages 160 stores in Spain and nine outlets across Portugal, Guatemala, Nicaragua and Latvia.

With this new acquisition, Black Toro plans to bolster Amichi's market position and consolidate its national store network with 30 new shops in Spain. In addition to this, the GP plans to bolster the company's international expansion by opening around 30 stores outside Spain in 2018.

Company
Established in 1991, Forecast specialises in designing and selling men's clothing via its website and a network of stores and outlets located across Spain and Portugal.

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• Topics
• Buyouts
• Southern Europe
• Consumer
• Spain