Burlington Coat Factory Warehouse Corporation has announced that Bain Capital Partners LLC, a leading global private investment firm, has acquired all of the outstanding shares of the company in a take-private transaction.
The total transaction value is $2.1 billion, or $45.50 per share in cash. The stockholders of Burlington Coat Factory Warehouse Corporation voted to adopt the merger agreement providing for the acquisition of the company by Bain Capital at a special meeting held in Burlington, New Jersey on Monday, April 10th 2006.
The number of shares voting to adopt the merger agreement represented approx. 86.3 percent of the total number of shares outstanding and entitled to vote at the meeting. The merger proposal was first announced on January 18th 2006.
Burlington Coat Factory offers a broad selection of branded apparel at every day low prices across many product divisions, including coats, ladies sportswear, menswear, family footwear, baby furniture and accessories, and home decor and gifts.
The modern Burlington Coat Factory, founded in 1972 by the Milstein family, has expanded from a single store selling coats to a multi-department retail chain with 367 stores in 42 states, predominantly under the "Burlington Coat Factory" name.
Bain Capital is a global private investment firm that manages several pools of capital including private equity, venture capital, public equity and leveraged debt assets with more than $38 billion in assets under management.
Burlington Coat Factory Warehouse Corporation
marketing@alchempro.com
