|
Charlotte Russe Holding,
Inc. (NASDAQ: CHIC), a leading mall-based specialty retailer for
young women, announced on August 24, 2009
that it has entered into a definitive agreement to be acquired and
taken private by investment funds managed by Advent International
Corporation, a leading global private equity firm with significant
expertise in the retail sector.
Charlotte Russe stores deliver style in clothing and accessories,
providing an exciting, fashionable assortment of merchandise that
compliments virtually every facet of our customers' lifestyle. The
stores provide fashion and lifestyle needs of young,
fashion-conscious women in their teens and early twenties, offering
trend right apparel and accessories at value prices. With stores
targeted at 6500 - 7000 square feet, Charlotte Russe takes full
advantage of its size by offering a much broader assortment of
merchandise than other competitors in our category. In addition to a
wide selection of apparel, Charlotte Russe also offers a full range
of accessories and footwear. Their
accessory assortments enable customers to easily compliment their
apparel selections.
About Advent International Corporation Founded in 1984, Advent
International Corporation is one of the world's leading global
buyout firms, with offices in 15 countries on four continents. A
driving force in international private equity for 25 years, Advent
International Corporation has built an unparalleled global platform
of over 140 investment professionals across Western and Central
Europe, North America, Latin America and Asia. The firm focuses on
international buyouts, strategic repositioning opportunities and
growth buyouts in five core sectors, working actively with
management teams to drive revenue growth and earnings improvements
in portfolio companies. Since inception, Advent International
Corporation has raised $24 billion in private equity capital and,
through its buyout programs, has completed more than 250
transactions valued at approximately $45 billion in 35 countries. |