Bain Capital Private Equity will acquire a majority stake in Daymon Worldwide, a retail services provider, from existing shareholders. Bain will aid Daymon’s global growth plans, enabling it to access increasing demand in Asia’s high growth markets, the company said.
Financial details related to the deal were not disclosed.
“Daymon’s leading global market position and impressive track record of consistent revenue growth presented a very compelling opportunity for partnership,” said Jonathan Zhu, a managing director of Bain Capital. “We are thrilled to join forces with Daymon and look forward to working with them on the many growth opportunities this transaction will bring in the U.S. and Asia’s emerging economies.”
The global retail market continues to grow substantially, and is expected to reach US$28 trillion by 2019 at an average annual growth rate of 3.8%1. Meanwhile, Asia’s retail sales are expected to exceed US$10 trillion by 2018.
Founded in 1970, Daymon Worldwide provides private brand development to strategy & branding, sourcing & logistics, retail merchandising services and consumer experience marketing.
The company’s leadership team remains in place and will continue to oversee the day-to-day operations of the business.
Bain Capital Private Equity will support the acceleration of Daymon’s global ambitions, as well as brings strategic acquisitions and accelerated growth opportunities for Daymon Worldwide.
Founded in 1984, Bain Capital Private Equity has made around 300 investments in consumer and retail industries, including Canada Goose, Michael’s, TOMS, among many others.