TIDMTED
RNS Number : 1952A
Ted Baker PLC
10 September 2018
10 September 2018
Ted Baker Plc
("Ted Baker" or the "Company")
Acquisition of No Ordinary Shoes Limited and No Ordinary Shoes
USA LLC
Ted Baker, the global lifestyle brand, announces that on 7
September 2018 it entered into an agreement with Pentland Group Plc
("Pentland"), the Company's footwear licensee since 2001, to
acquire the issued share capital of No Ordinary Shoes Limited and
No Ordinary Shoes USA LLC (together, the "Target Companies") for an
aggregate consideration of GBP13 million, plus an adjustment for
net assets of the Target Companies as at completion date,
anticipated to be between GBP4-8m, payable in cash on completion
(the "Acquisition"). Pentland currently holds the exclusive global
licence from Ted Baker to manufacture and distribute footwear under
the Ted Baker brand. Accordingly, following completion of this
Acquisition, Ted Baker will bring its footwear licence back
in-house.
The aggregated sales of the Target Companies for the year ended
31 December 2017 totalled GBP39.8 million. The Acquisition will be
financed by the Company's existing bank facilities and is expected
to enhance the earnings of Ted Baker in FY2019/20 and beyond.
Following completion of the Acquisition on 31 December 2018 the
Target Companies will be integrated into Ted Baker's current
operations.
Commenting, Ray Kelvin CBE, Founder and Chief Executive of Ted
Baker, said:
"I would like to thank Pentland for their hard work and
Tedication over the last 17 years during which they have been close
friends of Ted Baker and trusted custodians of the brand.
This is an exciting opportunity for Ted Baker to drive further
growth in our footwear business by leveraging our global footprint
and infrastructure, in line with our strategy to further develop
Ted Baker as a global lifestyle brand."
Richard Newcombe, Global President of Footwear Division at
Pentland, said:
"It's been a pleasure to have partnered with the Ted Baker team
for the last 17 years.
Since becoming the Ted Baker footwear licensee in 2001, we've
grown the footwear category by more than 800% and increased
distribution from 60 retailer partners in 8 markets, to over 200 in
28 markets. We have worked closely with the team at Ted to ensure
our strategies are perfectly aligned, and that the product captures
what makes Ted Baker such a special and unique brand.
We take pride in the role our team has played in the brand's
continued success, and we wish everyone at Ted Baker all the very
best for the future."
Enquiries:
Ted Baker Plc Tel: 020 7255 4800
Ray Kelvin CBE, Founder & Chief Executive
Lindsay Page, Chief Operating Officer & Group Finance Director
Charles Anderson, Company Secretary & Finance Director
Hudson Sandler (financial PR) Tel: 020 7796 4133 or tedbaker@hudsonsandler.com
Alex Brennan
Hattie O'Reilly
Nick Moore
Notes to editors
Ted Baker Plc - "No Ordinary Designer Label"
Ted Baker is a global lifestyle brand that operates through
three main distribution channels: retail, which includes
e-commerce; wholesale; and licensing, which includes territorial
and product licences.
We distribute through our own and licensed retail outlets,
leading department stores and selected independent stores in the UK
and Europe, North America, the Middle East, Africa, Asia and
Australasia.
The brand continues to go from strength to strength driven along
in part by its unconventional approach to product and design. Never
forgetting its roots as a shirt specialist but always with an eye
on the future, Ted is continuously innovating through its
collections, store environments and now with digital and social
media initiatives that foster a truly omnichannel view for its
growing and highly engaged global audience.
Ted Baker is a truly global lifestyle brand with 532 stores and
concessions worldwide, comprised of 195 in the UK, 113 in Europe,
127 in North America, 88 in the Middle East, Africa and Asia and 9
in Australasia.
The brand offers a wide range of collections including:
Menswear; Womenswear; Global; Phormal; Endurance; Accessories;
Bedding; Childrenswear; Crockery; Eyewear; Footwear; Fragrance and
Skinwear; Gifting and Stationery; Jewellery; Lingerie and
Sleepwear; Luggage; Neckwear; Rugs; Suiting; Technical Accessories;
Tiles; and Watches.
Pentland Group Plc
Pentland Group plc is a privately owned, global brand management
company with wholesale and retail businesses in sports, outdoor and
fashion.
It owns Speedo, Berghaus, Canterbury of New Zealand, Endura,
Boxfresh, Ellesse and Mitre. It's the global licensee for Ted Baker
footwear, Karen Millen footwear and Kickers in the UK and has a
joint venture partnership for Lacoste footwear.
The Group is the majority shareholder of JD Sports Fashion plc,
which operates 2,300 stores across 21 countries.
Headquartered in the UK, Pentland Group employs more than 41,000
people. Its brands are available in 190 countries. For more
information: www.pentland.com.
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END
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