Mint Capital exits Maratex
Mint Capital has sold its stake in casual ware retailer Maratex to Empik Media & Fashion Group (EM&F Group), a Polish multi-brand retailer listed on the Warsaw stock exchange. Over the 4,5 year holding period the number of stores has grown from 20 to 110, establishing Maratex as a leading provider of affordable fashion in Russia and Ukraine.
Mint Capital invested in Maratex to deepen the brand portfolio. In particular the fund was attracted by the introduction of value brand Peacocks to the region. It proved a success, and Peacocks is today the backbone of Maratex $150mn business in the two markets. EMF has been a Maratex shareholder since fall 2007.
Fredrik Ekman, Mint Capital’s founding partner says, “This is an important exit for us as we prepare for a third fund. It is in an industry we know and like, and the robust return will be supportive when go to market. It is indeed a pleasure to announce this deal after a time when the exit climate has been difficult. Management and shareholders have done a great job during the past two tough years, substantially strengthening Maratex’ market position”.
Maciej Dyjas, CEO of EM&F Group says, “Together with Mint we have coached Maratex through the crisis. The company is now well positioned to take advantage of ample opportunities for further growth”.
Dmitry Ermolenko, Maratex founder says, “From a founder’s perspective, I would say we have been very fortunate. We have found the right partners for each stage of Maratex evolution”.
Fredrik Ekman, Founding Partner, Mint Capital, tel. +7 (495) 980 17 22
Maciej Dyjas, CEO, EM&F Group, tel. + 48 (22) 461 08 05
Dmitry Ermolenko, Founder, Maratex, tel. +7 (495) 223 34 82
Mint Capital www.mintcap.ru
Mint Capital is a Moscow based private equity fund targeting mid-sized Russian and Ukrainian companies mostly in non-commodity related industries. The fund's staff comprises an international team of investment professionals with many years of living and doing business in Russia. Mint Capital holds over $150 million under management.
EM&F Group www.emf-group.eu
EM&F Group, listed on the Warsaw Stock Exchange, is a leading distributor of media and entertainment products, clothing, shoes, toys and accessories for children, as well as language courses and cosmetics. The Group of companies has been successfully building their strong market position for years, employ qualified managerial staff, have an extensive retail network and a large, stable customer base.
Maratex is a fashion retail company developing leading international fashion retail chains such as Esprit, Peacocks, River Island, Orsay, Bodique in the CIS countries. With professional management, more than 1,200 employees, flexible logistics and well-balanced portfolio the company plans ambitious further expansion from West to East.