UK private equity firm 3i has sold its 22.4 per cent stake in the business as part of the deal.
3i said that it will receive up to £28m from the deal including a deferred payment of £2m.
Catterton managing partner Michael Chu said, “We are confident that John Hardy offers substantial upside through multiple paths for expansion, and look forward to working with Robert and the entire team at John Hardy to capitalize on new market opportunities and realize the company’s significant potential.”
Reuters previously reported that John Hardy could be valued at between $100m and $120m.
Catterton was expected to back a $45m redeemable loan to 3i.
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