Jul 17 2012
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Investcorp buys 30% of Orka Group, one of Turkey's leading luxury menswear retailers
Bahrain, July 17, 2012 - Investcorp's Gulf Opportunity Fund, the private equity fund of Investcorp for the MENA region including Turkey, and Orka Group, one of Turkey's leading and fastest growing menswear retailers, announced today that they have signed a definitive agreement whereby Investcorp's Gulf Opportunity Fund will acquire a 30 percent stake in the Group.
Orka Group, through its brands Damat, Tween and D'S Damat, is a leading retailer of branded menswear in Turkey. Founded in 1986 by Süleyman and Halidun Orakçıoğlu with the introduction of its luxury brand Damat, the Group has become a respected international provider of luxury menswear. Orka's fashion products are sold in more than 250 stores and 40 different countries around the world, including franchises.
Mohammed Al Shroogi, Investcorp's President, Gulf Business, said: "Our third investment in Turkey comes in a sector, retail of branded and luxury products, in which we have unparalleled experience. Orka Group, with its high brand awareness and strong designs, has a huge growth potential both locally and internationally and we are excited to be part of its future successes."
The investment will enable the Orka Group to accelerate its growth in Turkey as well as in international markets.
This transaction is the sixth investment by Investcorp's Gulf Opportunity Fund, the private equity fund of Investcorp for the MENA region including Turkey. Investcorp exited successfully Redington Gulf, its first investment through the fund, earlier this year.
Since inception, Investcorp has acquired 102 companies in North America, Europe and MENA representing $ 33 billion in value. These investments include prestigious luxury brands such as Gucci, Tiffany & Co., Saks Fifth Avenue, Chaumet, Breguet, Ebel and Carter's.
Investcorp is a leading provider and manager of alternative investment products. Investcorp has offices in Kingdom of Bahrain, New York and London and is publicly traded on the Bahrain Bourse (INVCORP). Investcorp has three business areas: corporate investment in the US, Europe and the Gulf, real estate investment in the US and global hedge funds. As at December 31, 2011, Investcorp had $11.6 billion in assets under management. Further information is available at www.investcorp.com.
© Press Release 2012
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