Advent to acquire Charlotte Russe

Share this content:

Teen mall-based retailer Charlotte Russe Holding Inc. has entered into a definitive agreement to be acquired and taken private by private equity firm Advent International Corp. for approximately $380 million.

The price represents a 26.9% premium over the closing cost of Charlotte Russe's shares on August 21, the last trading day before the deal was announced.

Under the terms of the deal, an affiliate of Advent will purchase all of the outstanding shares of Charlotte Russe's common stock for cash at a price of $17.50 per share beginning on or before August 31.

“Over the last several quarters, we have worked diligently, increasing our focus on individual store performance metrics, better merchandising and implementing best retail practices to improve operational performance, profitability and shareholder returns,” said John Goodman, CEO at Charlotte Russe, in a statement.

Charlotte Russe launched its first e-commerce venture in 2007 and has focused on making CharlotteRusse.com a leading teen apparel destination by adopting new technology, such as a social shopping platform from DecisionStep.

Loading links....
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

We recently were named B2B Magazine's Direct Marketing Agency of the Year, and with good reason: We make real, measureable, positive change happen for our clients. A full-service agency founded in 1974, Bader Rutter expertly helps you get the right message to the right audience at the right time through the right channels. As we engage our clients' audiences along their journey, direct marketing (email, direct mail, phone, SMS) and behavioral marketing (SEM, retargeting, contextual) channels deliver information relevant to the needs of each stage. We are experts at implementing and leveraging marketing technologies such as CRM and marketing automation in order to synchronize sales and marketing communications. Our team of architects and activators plan, execute, measure and adjust in real time to ensure the strategy is working as needed and change things if it's not.

Find out more here »

DMN's Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here