Private equity firm Sycamore weighs bid for fashion chain Ted Baker

© Reuters. The Ted Baker logo is seen at their store at Woodbury Common Premium Outlets in Central Valley, New York, U.S., February 15, 2022. REUTERS / Andrew Kelly

(Reuters) – U.S. private equity firm Sycamore Partners is considering acquiring British fashion retailer Ted Baker, Sky News reported on Thursday.

Sycamore is considering taking a formal approach, the report says https://, adding that the holding company has hired investment bank Numis to advise on a potential offer.

This comes after a Wall Street Journal report earlier this week said that Sycamore and Hudson of Canada (NYSE:)’s Bay plan to bid high $60sa stock for Kohl’s Corp (NYSE:) . Kohl’s previously rejected acquisition offers in February.

Ted Baker and Sycamore declined Reuters’ request for comment.

Shares in Ted Baker closed up 8.88% on Thursday at £98.75, giving the company a total valuation of £182.3 million, Reuters calculations based on Refinitiv Eikon data show. see.

In February, Ted Baker said it was “cautiously optimistic” about the outlook for the current year after sales jumped 35% year-over-year in the fourth quarter, a period in which restrictions pandemic-related still applies.

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