Bain Capital Bets Big on South Korean Activewear Brand Andar
Bain Capital has announced a significant investment in South Korea’s Echo Marketing, the parent company of popular activewear brand Andar. The U.S. investment firm will acquire a 43.66% stake in Echo Marketing for 216.6 billion won (approximately $150.14 million USD), according to a regulatory filing made by Echo Marketing on Friday.
The initial stake is being purchased from Echo Marketing’s founder and another existing shareholder. Following this initial acquisition, Bain Capital intends to extend its ownership by launching a tender offer for the remaining approximately 56.4% of Echo Marketing shares.
The tender offer will be made at a price of 16,000 won per share – the same price paid for the initial 43.66% stake. This consistent pricing suggests Bain Capital is keen on achieving full ownership of the company.
News of the deal triggered a substantial surge in Echo Marketing’s stock price. Shares jumped 30% on Friday, closing at 13,910 won, reflecting investor confidence in the future prospects of the company under Bain Capital’s ownership.
