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Bridgepoint acquires children’s products retailer Smyk for £247 million

Overview

Travers Smith LLP has advised the management of Smyk, the Eastern European leading children’s products retailer, on its sale to private equity firm Bridgepoint. Bridgepoint has acquired Smyk in a €247m deal from former owner Empik Media & Fashion.

Founded in 1952, Smyk is a retailer focused on children's clothing, toys and accessories.  The company operates 125 stores in Poland and also has a presence in Romania, Russia, Ukraine and Germany. The company has four store formats comprising a combination of megastores, city stores, small stores in mid-sized cities and local malls, and outlets. It has also recently introduced an apparel-only 'shop-in-shop' format for its international markets. 12% of sales are currently made online.

Following the deal, Bridgepoint aims to support Smyk's growth through further store roll-outs, boosting its multichannel offering and expanding its franchise and wholesale operations.

This investment was made by Bridgepoint Europe V, a €4 billion European middle market buyout fund. Bank debt for this transaction was provided by Pekao. Cornerstone Partners of Poland will take a small minority in the Bridgepoint-led acquisition.

The Travers Smith team was led by senior partner Chris Hale, who was supported by corporate associates Adam Martin and Adrian Duncan.

Other legal advisers on the transaction included Weil Gotshal & Manges, who acted for Bridgepoint and Clifford Chance, who advised Empik Media & Fashion.