The financial plight of Charlotte Russe Holdings Inc. may finally be over with today's news that the company has agreed to be acquired by private equity firm Advent International Corp. The apparel and accessories company— geared toward trendy, teen-themed fashion—has been shopping for a buyer since March, and seems satisfied with Advent's tender offer of of $17.50 a share, or about $380 million total. “After careful consideration of a full range of strategic
alternatives, including an extensive, publicly announced sale process,
we are pleased to have reached this agreement with Advent, which
creates substantial value for our stockholders,” said Jennifer Salopek,
Charlotte Russe’s chairman. An affiliate of Advent will be obtaining all of Charlotte Russe's outstanding common stock through the tender offer, a process scheduled to begin on or before August 31st.
Article Source: WWD
Photo Source: zonarosa
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