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Catterton Partners nears deal to acquire John Hardy

2 Jun 2014

john hardyPrivate equity firm Catterton Partners is reportedly nearing a deal to buy jeweller John Hardy after holding exclusive negotiations for more than a month.

The company could be valued at between $100m and $120m in a deal, sources close to the matter told Reuters.

Under the terms of the deal, Catterton is expected to back a $45m redeemable loan to private equity firm 3i, which has a 23 per cent interest in John Hardy.

One of the people said that Catteron has been in exclusive talks with the company for over a month and a deal could be announced any time soon.

Last November it was reported that private equity firm TSG Consumer Partners was also interested in the company. Earlier in 2014 Catterton closed two funds including its flagship vehicle with commitments of $2.1bn.

John Hardy is controlled by CEO Damien Dernoncourt, who owns 73 per cent via a holding that includes other investors and creative director Guy Bedarida

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