RM Williams earnings to more than triple by 2024, bidders told
Oct. 10, 2019
The flyer said RM Williams was targeting its online sales to reach 10 per cent of total sales and had $120 million in net assets.
Owner L Catterton tapped Goldman Sachs to find a buyer for RM Williams in May, as revealed by Street Talk , and has been working on its pitch in the months since.
L Catterton paid former News Corp executive Ken Cowley about $110 million for the business in 2014, having already owned a minority stake.
It wasn't all forecasts in the flyer. Interested parties were told RM Williams had recorded 12 consecutive quarters of like-for-like sales growth in its Australia and New Zealand stores, while revenue was up 10 per cent a year on a compound annual growth rate basis in the four fiscal years to 2019.
It was also said to be operating at a 62 per cent gross margin.
Ninety one per cent of the company's revenue was recorded in Australia and New Zealand.
The business is expected to attract interest from large offshore consumer brands companies including VF Corp, and private equity firms including Fosun and Lunar Capital, as well as the usual players in Australian buyouts.
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