Bain Capital to acquire parent company of athleisure brand Andar
Athleisure brand Andar / Courtesy of Andar
By Yonhap
Bain Capital LP said Friday it plans to acquire EcoMarketing, the parent company of local athleisure brand Andar.
The Boston-based private equity fund said it plans to purchase a stake of around 44 percent in EcoMarketing through a special purpose company (SPC), while the remaining amount will be acquired through a tender offer at 16,000 won ($11) per share.
EcoMarketing holds a 57 percent stake in Andar, a popular gym wear brand, of which products are sold in countries that include Japan, Australia and Singapore.
Andar has recently launched a new athleisure brand in the United States.