Victoria + Co. Ltd.
Victoria + Co. Ltd. (‘Victoria’ or the ‘Company’) is a leading designer and marketer of branded and private label costume jewelry sold to fine department and specialty stores. Victoria markets its products under the national brand names Napier and Richelieu, and under several licensed brands, including Nine West, Tommy Hilfiger and Givenchy, as well as private label brand names.
SSG concurrently explored all of Victoria’s strategic alternatives, including a minority equity infusion and a sale to both financial and strategic buyers. At the time of SSG’s engagement, Victoria was posting a negative $1million in EBITDA. SSG was able to recast the the Company’s EBITDA to $13 million adding back one-time expenses and potential buyer synergies.
Jones Apparel Group purchased Victoria for $90 million plus an approximately $90 million earn-out, providing the management team with the opportunity to continue to grow the business and allowing Victoria’s institutional shareholders to reap a substantial return on their investment.