UK - BC Partners drops bid for Matalan

In November, Blackstone withdrew from the sale process as well. The remaining potential buyers are said to include Warburg Pincus, TPG Capital and Advent International. Advent's bid is being led by former Boots boss Richard Baker, who joined the buyout house last summer.

Matalan founder John Hargreaves, who has put the business up for sale, received "a number of unsolicited bids", a source close to the deal said, as the business has so far defied the downturn due to cash-strapped consumers. Its earnings jumped 6.3% in the year to 28 February 2009 to £145.1m.

Hargreaves, who took the company private in 2006 in a £827m deal, is said to be pushing for a high price tag.

The company has 203 shops across the country and recently began an expansion programme in the Middle East through franchise partners.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Consumer
• UK / Ireland