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Bain Capital Acquires Children's Wear Retailer Goldbabe for $1.8 Billion
On October 11, Beijing time, children's apparel retailer Gymboree announced that it has accepted a $1.8 billion privatization bid from Bain Capital, a prominent private equity firm. The offer amounts to $65.40 per share, representing a 24% premium over the company’s closing price of $52.95 on the previous Friday. Gymboree currently has 27.3 million shares outstanding and operates several well-known brands, including Crazy 8, Jennifer, and Jack. As of October 2, the company had expanded to 1,037 retail locations nationwide.
This development comes after reports last week suggested that Gymboree might consider offers ranging between $55 and $60 per share. In addition to Bain Capital, other private equity firms such as KKR, Eppetts Partnership, Owen Pareth Capital, and Apollo Management were also reportedly interested in acquiring the company.
Bain Capital is expected to initiate a formal bidding process once the agreement becomes effective. If everything proceeds smoothly, the deal could be finalized by the end of this year. However, under the terms of the agreement, Gymboree retains the right to accept a third-party offer before November 20.
Following the announcement, Gymboree's stock surged by $11.94 on Monday, closing at $64.89 per share—a 22.55% increase. This sharp rise reflects investor confidence in the potential value of the takeover and signals strong market reaction to the news.