MJ Hudson advises co-investor minority in sale of German NKD clothing retailer to TDR Capital
MJ Hudson | Law advised its client on the disposal of its indirect co-investment interest in NKD, a leading German discount clothing retailer with a chain of around 1,800 small-format stores across Germany, Austria, Croatia, Italy and Slovenia. The buyer was TDR Capital. Terms of the deal are not being publically disclosed.
The investment transaction represented a turnaround of NKD’s prospects, a previously struggling consumer business. Over the past three years, NKD’s growth has outperformed the market, with an average 7.5% increase in sales per year. Opcapita, the European-focused investment manager, acted as investment manager to the sell-side funds during the term of their investment into NKD.