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Mill Road to take slipper and accessories maker RG Barry private in $215m deal

6 May 2014

Dearfoams slippersUS private equity firm Mill Road Capital has agreed a $215m take-private deal for footwear accessories brand business RG Barry.

The $19-a-share deal represents an 18 per cent premium on the 30-day average price of the stock prior to Mill Road announcing its initial proposal in September last year.

Mill Road already owned a 9.8 per cent stake in the business, and plans to close the deal for the whole company in the third quarter of this year.

RG Barry president and CEO Greg Tunney said, “The greatest test our business faces continues to be identifying and retaining profitable top-line growth in existing segments while adding new, category-appropriate drivers in other parts of the accessories universe.

“We remain committed to investing for the long-term in the people, platforms and strategies that will make that growth possible at a faster and more sustainable rate than we currently are achieving.”

The company provides brands including Dearfoams slippers, baggallini handbags and Foot Petals insoles.

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