The Carlyle Group (CG: Quote) announced it has acquired 60% of Tok&Stok, specialty furniture retailer in Brazil, from founders Ghislaine and Régis Dubrule. Mrs. Dubrule will remain as CEO of Tok&Stok following the transaction and the founders will retain a 40% stake in the company. The transaction is subject to approval by antitrust authorities, and is expected to close in the fourth quarter of 2012.
Founded in 1978 and headquartered in Barueri, Tok&Stok sells a wide range of furniture and home décor products. In 2011, the company generated approximately R$1 billion in sales through 35 stores in 12 states across the country and employed approximately 3,300 people.
Carlyle Group said equity capital for the transaction will come from the $1 billion pool of capital managed by Carlyle's South America Buyout Fund and Fundo Brasil de Internacionalização de Empresas FIP, a local fund advised by Carlyle and Banco do Brasil. Additional financial terms were not disclosed.
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by RTT Staff Writer
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