Leonard Green sells 25% Topshop stake to Arcadia

The development comes as Arcadia pursues a restructuring deal as a result of the UK's "exceptionally challenging retail market", according to a recent statement. Media reports say the group is pursuing a potential company voluntary arrangement that could include the closure of some stores across its portfolio of brands.

According to a report in the Guardian, Leonard Green had written the value of its investment in Topshop down to nil by 2017. However, the private equity house told the Financial Times that it retains the option to reacquire its stake in Topshop at a later date.

Previous funding
Leonard Green acquired a 25% stake in Topshop for around £350m in 2012. The transaction was intended to support the company's expansion in the US market.

Company
Founded in 1964, London-headquartered Topshop is a clothing and accessories retailer.

People
Leonard Green & Partners – John Danhakl, Jonathan Sokoloff (managing partners).
Arcadia – Ian Grabiner (CEO); Philip Green (chairperson).

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• Exits
• UK / Ireland
• Consumer
• United Kingdom