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| ▲ A photo of Bain Capital LP's logo provided by the company (PHOTO NOT FOR SALE) (Yonhap) |
Bain Capital-acquisition
Bain Capital to acquire parent company of athleisure brand Andar
SEOUL, Jan. 2 (Yonhap) -- Bain Capital LP said Friday it plans to acquire EcoMarketing Co., the parent company of local athleisure brand Andar.
The Boston-based private equity fund said it plans to purchase a stake of around 44 percent in EcoMarketing through a special purpose company (SPC), while the remaining amount will be acquired through a tender offer at 16,000 won (USD$11) per share.
EcoMarketing holds a 57 percent stake in Andar, a popular gym wear brand, of which products are sold in countries that include Japan, Australia and Singapore.
Andar has recently launched a new athleisure brand in the United States.
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