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3i to acquire lingerie retailer Agent Provocateur19/11/2007. Source: AltAssets. 
 3i has agreed to acquire luxury brand lingerie retailer Agent Provocateur. Financial details of the transaction were not officially disclosed, but sources told AltAssets that the purchase price was approximately £60m.
Joseph Corré and Serena Rees, co-founders of the company, will continue to be shareholders in the business.
Founded in 1994, Agent Provocateur sells its products in 14 countries, including the US, in Europe and in the Middle East. In addition to lingerie, the company has launched fragrances and recently added shoes to its existing product ranges. The company also has a growing e-commerce business.
3i will make the acquisition from its Eurofund V and has introduced The Hamleys Group chairman Stuart Rose as Agent Provocateur's new chairman.
Jennifer Dunstan, 3i partner buy-outs, said, 'We are delighted to be investing in such a unique and exciting brand as Agent Provocateur. The company has a fantastic reputation and is already well established throughout Europe. We believe there is enormous potential for the business to continue to grow and look forward to using both our retail experience and our global network to help Agent Provocateur achieve this ambition.'
3i Buyouts leads European mid-market buy-outs of companies valued at up to around €1bn. With €8bn of funds under management 3i Buyouts invests across industry sectors, with a particular focus on media, healthcare, consumer, business support services, and oil, gas and power.
3i recently agreed to sell its stake in Nordic service management company Coor Service Management Group to Cinven in a deal worth around €540m.
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