UNQUOTE

FRANCE - Advent buys discount retailer Stokomani from Alpha Group

  • Wietske Blees
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Advent International has backed the management of French discount retailer Stokomani in its buyout from Alpha Group. Stokomani is a major French end-of-line and big brand product stock clearance retailer, offering a range of 15,000-20,000 products in a range of sectors.

Advent is no stranger to the discount retail market, with existing investments in Dollar Express in the US and Poundland in the UK. The GP has been eyeing up Stokomani since 2003, the year Alpha backed its management buyout of the retailer.

Founded in 1962, Stokomani currently employs 500 people from its 18 retail outlets, generating revenues of EUR 83m in 2006, double the figure five years ago. By 2011, the group aims to double the number of stores and to create more than 350 new jobs.

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