July 4, 2022

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Sycamore Partners makes £250m bid for Ted Baker

2 min read

New York-based buyout giant Sycamore Partners makes £250m bid for Ted Baker by tabling 130p per share offer to takeover retailer

Sycamore Partners has made a £250m bid for Ted Baker. 

The New York-based buyout giant has tabled a 130p per share offer to take over the retailer, Sky News reported. 

Sycamore invests in retailers including music-focused American chain Hot Topic.

Signing off: Sycamore’s 130p offer is well below analysts’ 220p estimations of the brand

It is also said to be among the firms bidding for Boots, which is up for sale. 

Sycamore confirmed this month it was weighing up a bid, sending Ted Baker shares soaring 43 per cent in the past two weeks. 

Sycamore’s 130p offer is just 3 per cent higher than Ted Baker’s 126.2p closing price on Friday. It is also well below analysts’ 220p estimations of the brand, with a consensus target price around 220p per share. 

The embattled firm has 377 stores and concessions, of which 97 are in the UK. 

It has been mired by scandals and was devastated by Covid, issuing a series of profit warnings. It is worth just 6 per cent of its 2015 high, when shares reached 2669p. 

Ted Baker declined to comment.    

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