Advent to acquire 75% stake in Hermes UK


 

Private equity firm Advent International is to acquire a 75% stake in Hermes UK in what is described as a “business as usual” agreement. Announced this week, the deal will see German retailer Otto Group sell three quarters of the business to Advent in a deal reportedly worth £900,000. Otto Group will continue to own 25% of the company whilst the management of Hermes UK will continue to lead it as an independent operation, with business continuing as normal for […]