LionRock Capital, an Asian private equity firm that invests in global consumer brands with a China growth angle, has agreed to sell its stake in British shoe brand Clarks to Viva China, a holding company controlled by Li Ning, founder of the eponymous Chinese sporting goods brand.
Viva China already owns 51% of Clarks. LionRock acquired a majority interest in the company in February 2021, committing GBP 100m (USD 119m) to position it for long-term growth and support global expansion....
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LionRock Capital is exiting Clarks to its majority partner, Li Ning-owned and Hong Kong-listed Viva China, having helped the struggling British shoe brand survive the pandemic