Graphite Capital sells Jane Norman for £117.4m

Jane Norman is one of the UK’s fastest growing and most profitable fashion retailers with a distinctive own-label brand. Trading from its own outlets and concessions in department stores, it distils fashion trends into affordable clothes and accessories targeted at the increasingly affluent 15-25 year age group.

The transaction provides Graphite with a total return of 2.9 times its investment and an internal rate of return of more than 50%. Graphite acquired a majority shareholding in Jane Norman in 2003 when it backed the £70m management buyout led by chief executive Saj Shah. Since then, the number of outlets has more than doubled to 39 stand-alone stores and 56 concessions. Over the past five years, annual sales have grown by 230% and operating profits by 250%.

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• Topics
• Buyouts
• UK / Ireland
• Consumer