Outdoor brand Mountain Warehouse explores IPO
The owners of British outdoor brand Mountain Warehouse are said to be considering the possibility of a £200 million flotation in London after hiring investment bank Rothschild to undertake a review of strategic options for the business.
The retailer, which trades from 191 stores in the UK and a further 37 sites in Germany, Poland, the US and Canada, was founded by Mark Neale in 1997. Over the years it has had several private equity owners, but in 2013 the business was bought out from Lloyds Banking Group by its founder and other members of the management team in an £85 million deal. Neale now owns 85% of the retailer following the acquisition.
Mountain Warehouse is eyeing to grow to 300 stores in the UK, a plan that could be potentially funded by a float. With its own-brand discount outdoor equipment and clothing, the brand has enjoyed a surge in popularity helped by the rise of outfoor activities such as running and cycling.
Its Christmas sales were up by 28%, according to several media reports, while pre-tax profits jumped by 31% in the six-month period to August 31.
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