01 Dec Silverfleet Capital Sells Office Chain To Truworths For $385 Million
Silverfleet Capital, the European private equity firm said Monday it has agreed to sellOffice, the British fashion footwear retail chain, for 256 million pounds, or $385 million, to Truworths International, a South African fashion retailer.
The transaction is expected to close early next month, and is subject to approval by the South African Reserve Bank. Truworths is listed on the Johannesburg Stock Exchange.
Silverfleet invested in Office in Dec., 2010 and said that over the last five years it has worked with the management team to establish the company as a leading fashion footwear retailer.