Jimmy Choo owner hires banks for strategic review

Fri Sep 10, 2010 11:44am EDT
 
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LONDON (Reuters) - Private equity firm TowerBrook Capital said on Friday it has hired Goldman Sachs and Morgan Stanley to review options for celebrity shoemaker Jimmy Choo.

Strategic options include accelerating the company's expansion via new strategic initiatives, new partnerships or accessing alternative financing markets, the private equity firm said in a statement.

Strategic options can frequently mean a sale or flotation on the stock market. Reports have said TowerBrook is considering an initial public offering, which could value the business at around 500 million pounds.

"We are now initiating a review of the best strategic and financing options for the business to support its long term development and continued success," said TowerBrook co-CEO Ramez Sousou.

TowerBrook led the buyout of Jimmy Choo in 2007 for 185 million pounds.

(Reporting by Simon Meads; Editing by Greg Mahlich)

 
<p>A woman looks at a Jimmy Choo open-toed slingback shoe displayed in a shop window on Via Condotti in central Rome October 7, 2008. REUTERS/Tony Gentile</p>