Gresham Private Equity invests in women’s clothing label

Gresham Private Equity, a buyout specialist in Australia and New Zealand, has acquired Witchery, an Australian women clothing chain for a reported A$130 million.

Gresham Private Equity, the buyout arm of Australian-owned Gresham Investment House, has acquired Witchery, an Australian women’s clothing chain for a reported A$130 million ($98m; €78m).

The investment will be made from Gresham Private Equity Fund Two, an A$325m investment vehicle. The fund will be close to half invested following the acquisition of Witchery, Roy McKelvie, Gresham’s managing director said.

Witchery has 75 stores in six states and territories across Australia, according to a Gresham statement. Gresham plans to extend the chain.

Other investments from Gresham Fund 2 include Noel Leeming Group, a New Zealander retailer, Australian Pacific Paper Products, an Australian manufacturer of disposable nappies, and Pacific Print Group, a printing business. Gresham typically seeks to commit A$10 million to A$60 million equity in transactions in businesses with enterprise values of up to A$500 million.