Australia’s Gresham PE in $180m Witchery Group exit
Gresham Private Equity has agreed to sell fashion retailer Witchery Group to Country Road for A$172 million ($180.2 million). The deal will see Witchery CEO Ian Nairn replace Howard Goldberg as head of Country Road, which is majority-owned by South Africa’s Woolworths Holdings.
Gresham has held the asset for six years, having originally paid an estimated A$130 million for it via Gresham Private Equity Fund 2, a A$325 million vehicle that closed in 2005. Witchery is a 40-year-old...
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