Thomson Geer advises City Chic Collective on A$80m capital raising and US$16m acquisition

29 July 2020

News

Thomson Geer has advised Australian retail clothing company, City Chic Collective on an A$80 million capital raising, to fund the potential acquisition of the e-commerce assets of United States based company Catherines, from the Ascena Retail Group.

City Chic Collective has been selected as the bidder for the e-commerce assets of Catherines after its parent Ascena filed for Chapter 11 Bankruptcy, with the potential acquisition being worth USD $16 million.

City Chic CEO and managing director, Phil Ryan said, “We are excited about the opportunity to acquire the e-commerce assets of Catherines, a well-known plus-size brand with a deep history and strong customer following in the US market.”

“The potential acquisition of Catherines meets our strategic objectives of scaling our business across geographies and plus-size segments,” Ryan continued.

The Thomson Geer team was led by Partner, David Schiavello who recently joined the firm’s Melbourne Corporate and M&A team from MinterEllison. David was supported by Partner Ebru Davidson, Associate, Matt Persico and Lawyer, William McPhee.

Thomson Geer partner David Schiavello said, “We congratulate City Chic Collective as it continues to make great strides towards achieving its strategic objectives both in Australia and abroad”.