Brentwood Associates to divest Marshall Retail Group for undisclosed sum.

M2 EQUITYBITES-October 17, 2019-Brentwood Associates to divest Marshall Retail Group for undisclosed sum

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Consumer private equity firm Brentwood Associates revealed on Wednesday the signing of a definitive agreement to divest The Marshall Retail Group LLC (MRG) to an affiliate of WH Smith plc (LON:SMWH) for an undisclosed amount.

Founded in 1955, MRG is a leading specialty retailer offering a broad range of concepts for high-foot-traffic marketplaces. It provides turnkey solutions to airport and hotel resort operators by creating and managing a highly scalable platform of stores. It currently operates more than 170 locations across the US, with 70 of those locations operating inside airports. The company has over 1,200 employees.

In conjunction with the sale, MRG's CEO and president Michael Wilkins will continue to lead the business going forward.

Subject to customary closing conditions, including regulatory approvals, the sale is expected to close no later than in the first quarter of 2020.

North Point Advisors LLC and William Blair & Company LLC acted as financial advisors, while Kirkland & Ellis LLP acted as legal counsel.

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