KKR Aims for Australia’s Pacific Brands


January 10, 2012

Australian cyclicals a target for PE take-privates, says Reuters. KKR has made an unsolicited offer for Australia’s Pacific Brands, which owns Everlast, Clark, Berlei, and several other well-known brands in a deal that could be worth $614 million, reports Reuters.
Private equity firms have been active in Australia in recent months because cyclical goods are trading at a discount. The article says that buyouts hit a peak last year not seen since 2006. Including Pacific Brands there are USD 2.05 billion deals underway in Australia.
KKR has only one investment in the country at the moment, Seven Media Group, which merged with West Australian Newspaper Holdings last year.

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