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Article: Charlotte Russe Sells to Advent.(News)
- Article from:
- Mergers & Acquisitions Report
- Article date:
- August 31, 2009
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Byline: Jonathan Marino
Charlotte Russe Holding Inc., the listed, San Diego-based apparel and fashions maker, has been sold to Advent International in a take-private valued at $380 million.
An Advent affiliate will buy Charlotte Russe at $17.50 per share; the company's stock leapt in Monday morning trading by more than 25 percent. That figure represents, roughly, a 52-week high for Charlotte Russe stock, but the company is still well off peaks from 2007 where its shares broke through the $30 threshold.
David Mussafer, a managing partner with Advent, said the company will work with Advent operating partner Jenny Ming, the former president of Old ...