Squire Sanders has advised the owners of well-known UK retailer Coopers of Stortford on the sale of the business to the France-based group Damartex SA. The acquisition has a headline enterprise value of £25 million. Corporate partner David Hull in London led the Squire Sanders team on the transaction, assisted by associate Mark Yeo.
Founded in 1995 Coopers of Stortford, is a family-owned company based in Bishop’s Stortford specializing in multi-channel sales of practical products for the home, garden & leisure. The company now has 1.4 million customers in the UK who mostly buy their products through printed catalogues or online. Damartex SA, headquartered in Roubaix, France, and listed on the Paris Stock Exchange, is one of the leading European distributors of clothing and accessories for the aged 55 and over market. Its distribution channels include catalogues, websites and stores and its main markets are France, the UK and Belgium. The current management team of Coopers of Stortford will continue to develop the business and the brand in the UK.
David Hull commented, “We are delighted to have supported the shareholders of Coopers of Stortford on this deal; it illustrates how attractive well-run businesses with a focus on excellent customer service are for cross-border M&A in the retail sector, particularly where there are synergies in product lines and customer base.”