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PE firm may buy 30% in Catmoss

Private equity firm SAIF Partners is in advanced talks to buy around 30% stake in Delhi-based kidswear retail chain Catmoss for Rs 70 crore, a person familiar with the matter said. The fund will help the apparel maker expand across the country. Catmoss runs around 150 exclusive brand outlets besides contributing to large format stores and multi-brand outlets. While an email sent to Catmoss did not elicit any response, senior executives of SAIF Partners declined to comment on the proposed transaction. Established in early 2000, Catmoss clocked net profit of around Rs 7.5 crore with revenues of Rs 130 crore.

Based in Hong Kong, SAIF Partners manages over $2 billion across three funds with China, India and Taiwan as the focus markets. It primarily invests in media, telecom, travel and tourism sectors. In India, it has invested in companies such as Asian Health and food services company Speciality Restaurants Pvt Ltd that runs chains such as Oh! Calcutta and Mainland China.

This is the second PE investment in the children’s apparel space in as many months. In April, TPG and Bain Capital picked 35% stake in Lilliput Kidswear from domestic investment firm Everstone for around Rs 385 crore. The market for children’s apparel is estimated to be about Rs 21,000 crore as per retail consultancy Technopak Advisors.

Source: Economic Times

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