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Eversheds advises New Look on its employee share plans in Brait SE sale

  • United Kingdom

    15-05-2015

    Law firm Eversheds has advised New Look on the employee share plans aspects of its sale to Brait SE for an enterprise value of c. £1.9 billion.

    Founded in 1969, New Look has grown from a single store to become a dynamic, international, multichannel retail brand with a unique value-fashion offer in apparel, footwear and accessories for women, men and teenage girls. New Look is the No. 2 value retailer for women’s clothing and accessories market in the UK (source: Kantar Worldpanel for year to March 2015). The New Look Group has over 800 stores across the globe in 21 countries, including 19 in China and our estate of 569 UK stores places New Look in immediate reach of the majority of the British population.

    Brait is an investment holding company focused on driving sustainable long-term growth and value creation in its investment portfolio of sizeable unlisted businesses operating in the broad consumer sector.

    The Eversheds’ Employee Incentives Team was led by partner Danny Blum, with support from Victoria Green (principle associate, employee incentives) and Richard Sharman (associate, employee incentives).

    Danny commented:

    “This was a rollercoaster of a deal which was complicated by the wide employee ownership structure in place at New Look and the speed at which the transaction took place.”

    Richard Collyer, Group Finance Director – New Look, commented:

    “New Look would like to thank Eversheds, and in particular Danny Blum, for all of their support and diligence during the transaction in relation to the employee share plans.”

    Disclaimer

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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