Kurt Geiger acquired by Cinven

Endaba Group

European private equity group Cinven has bought Kurt Geiger for an undisclosed sum. Under the new ownership, Chief Executive Neil Clifford, Creative Director Rebecca Farrar-Hockley and Chief Financial Officer Dale Christilaw will remain in place under the new ownership. Cinven is their third owner in four years.

The footwear retailer increased turnover by 15.4% to £251.8m for the year ended December 31, 2014, while operating profit increased 277.8% to £11.2m. Gross profit was up 15% to £133m for the period and EBITDA increased 42% to £21.3m.