LORNA JANE SET TO SELL

Written on the 15 May 2014

LORNA JANE SET TO SELL BRISBANE based active-wear company Lorna Jane will be put up for sale at a $500 million price tag, according to media reports.

The Australian Financial Review is reporting that private equity firm CHAMP Ventures and company founder Lorna Jane Clarkson have decided to sell the business.

The news comes after speculation earlier this year that the company would float its shares publicly on the Australian Stock Exchange, with CHAMP poised to take a 40 per cent stake.

According to reports, bankers from Credit Suisse’s New York branch have been called in to run the auction, with Lorna Jane and her co-founder husband Bill Clarkson expected to announce the impending sale soon.

At the time of press there has been no official announcement from the Lorna Jane head office and calls by Brisbane Business News yesterday were not returned.

CHAMP Ventures took its stake in Lorna Jane in early 2010.

Lorna Jane profits hit $19.6 million for fiscal year 2013, up from 12.9 million in 2012, with a network of more than 155 retailers.

Latest News

ACCC TAKES ACTION AGAINST MURRAY GOULBURN

THE ACCC has begun proceedings against milk processor Murray Goulburn alleging it contravened Australian Consumer Law...

RUMOURS ARDENT LEISURE IS LOOKING TO SELL DREAMWORLD

THE PARENT company of Gold Coast theme park Dreamworld is considering a sale of the struggling business to a Chinese ...

TATTS GROUP REFUSES DUE DILIGENCE TO PACIFIC CONSORTIUM AFTER REVISED $6B OFFER

TAKEOVER target Tatts Group (ASX: TTS) has rejected a revised all-cash $6 billion offer from the private equity group...

AGENTS REPORTING STRONG DEMAND FOR MELBOURNE CBD OFFICE SPACE PURCHASES

SEVEN Melbourne CBD offices have recently sold for more than $11 million in total, demonstrating huge demand for c...

Related News

FURNITURE DISRUPTOR SET TO SHARE HIS ONE OF A KIND BUSINESS MODEL

IT'S no secret that Australians love homemaking. Their ceaseless quest to create the perfect place to call hom...

WEEDING OUT THE ASX'S BURGEONING CANNABIS TREND: 8 COMPANIES TO WATCH

A NICHE is budding on the ASX in the form of medical cannabis, an industry which has been on the country's rad...

FRESH CLASS ACTION TO REVEAL ANOTHER SIDE OF SLATER AND GORDON DOWNFALL

ACA LAWYERS has issued a formal letter of demand to Andrew Grech (pictured), managing director of Slater and Gordo...

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she m...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter