Investment Will Support Growth
SAO PAOLO & WASHINGTON--(BUSINESS WIRE)--
Global alternative asset manager The Carlyle Group (NASDAQ: CG) today
announced that it has acquired 60% of Tok&Stok, Brazil's largest
specialty furniture retailer by sales, from founders Ghislaine and Régis
Dubrule. Mrs. Dubrule will remain as CEO of Tok&Stok following the
transaction and the founders will retain a 40% stake in the company.
Equity capital for the transaction will come from the $1 billion pool of
capital managed by Carlyle's South America Buyout Fund and Fundo Brasil
de Internacionalização de Empresas FIP (FBIE), a local fund advised by
Carlyle and Banco do Brasil. The transaction is subject to approval by
antitrust authorities and is expected to close in the fourth quarter of
2012. Additional financial terms were not disclosed.
Founded in 1978 and headquartered in Barueri (SP), Tok&Stok sells a wide
range of furniture and home décor products. In 2011, the company
generated approximately R$1 billion in sales through 35 stores in 12
states across the country and employed approximately 3,300 people.
Daniel Sterenberg, a Principal with Carlyle's South America Buyout team,
said, "Tok&Stok is an outstanding business with a superb market
position, exceptional brand recognition and a unique shopping experience
for consumers and we are excited about its growth prospects."
Juan Carlos Felix, Managing Director with Carlyle's South American
Buyout team added, "We are proud to partner with the Dubrule family, who
has built a tremendous company over the course of 34 years with a solid
growth track record and an outstanding management team. We look forward
to supporting Tok&Stok in achieving its growth plans."
Mr. Regis Dubrule said, "Carlyle's global resources and impressive local
track record were key elements in our decision to have a partner. This
is a major milestone for the company and for the family."
Mrs. Ghislaine Dubrule commented, "With Carlyle's support we expect to
accelerate our growth in sales, strengthen our customer service and
improve the relationships with our partners, including suppliers and
employees, all of which are instrumental to deliver our mission of
making good design accessible."
Carlyle established its South America Buyouts team in 2008. In Brazil,
Carlyle has also invested in CVC, a tourism operator; Qualicorp, a
health plan broker and administrator; Scalina, a lingerie manufacturer
and retailer; Ri-Happy, a toy retailer; and Grupo Orguel, an equipment
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager
with $156 billion of assets under management across 99 funds and 63 fund
of fund vehicles as of June 30, 2012. Carlyle's purpose is to invest
wisely and create value. Carlyle invests across four segments —
Corporate Private Equity, Real Assets, Global Market Strategies and Fund
of Funds Solutions — in Africa, Asia, Australia, Europe, the Middle
East, North America and South America. Carlyle has expertise in various
industries, including: aerospace, defense & government services,
consumer & retail, energy, financial services, healthcare, industrial,
technology & business services, telecommunications & media and
transportation. The Carlyle Group employs 1,300 people in 32 offices
across six continents.
Carlyle Group — Website
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The Carlyle Group:
MSL -- Brasil
Source: The Carlyle Group
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