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Management Buyout For Adams Childrenswear

One of the country’s leading children’s clothing retailers has been the subject of an 87 million management buyout.

Nuneaton-based Adams Childrenswear has been purchased from retail group Sears by a team of five directors who are backed by London-based Natwest Equity Partners.

It is the second major local buyout that Natwest Equity Partners has been involved with in the space of a month after announcing that it had acquired Warwick-based vehicle specialists Dennis Eagle.

Adams Childrenswear, which has almost 350 stores worldwide and an annual turnover of 200 million, will now be run by managing director Michael Hobbs, commercial director Dean Murray, marketing director Phillip Walker, operations director Stuart Dickerson and HR director Claire Shale.

Managing director Hobbs, who will lead the team, is delighted with the purchase and believes the company can now become a major force.

He said:

"Adams is the largest retailer dedicated solely to kids clothes in the country.

"To be successful in the childrenswear sector you have to understand the customers’ ever developing requirements.

"Our focus will continue to be to deliver great quality clothes at the best prices. We are constantly introducing new styles and updating our ranges with appropriate fashions."

And Hobbs revealed that the company was already formulating new strategies to increase their market share.

"Developing new channels of distribution for getting our product to market has seen us develop strong relationships with household names like Sainsbury’s," he said.

Adams employs nearly 4,000 staff in their outlets and the management buyout team has stressed that none of these jobs will be affected by the take-over, with all employees transferring with the sale.

The company began in Birmingham in 1933, with Amy Adams operating a baby clothes business from her house in Kings Heath.

Adams Childrenswear was bought by Foster Brothers in 1973 and moved to Nuneaton in 1985 when Foster Brothers became part of the Sears Group.

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CWN / Business / A-Z / Adams Childrenswear / 28 Aug 99

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This page modified on 10 November 2008 09:49:15AM