The Carlyle Group has acquired 60% of Tok&Stok, Brazil’s largest specialty furniture retailer by sales, from founders Ghislaine and Régis Dubrule. Ghislaine Dubrule will remain as CEO of Tok&Stok following the transaction and the founders will retain a 40% stake in the company.
“With Carlyle’s support we expect to accelerate our growth in sales, strengthen our customer service and improve the relationships with our partners, including suppliers and employees, all of which are instrumental to deliver our mission of making good design accessible,” said Mrs. Dubrule.
Tok&Stok is specialty furniture retailer and sells a wide range of furniture and home décor products. In 2011, the company generated approximately R$1 billion in sales through 35 stores in 12 states across the country and employed approximately 3,300 people. The company was founded in 1978 and is based in Barueri (near São Paulo), Brazil (www.tokstok.com.br).
Equity capital for the transaction will come from the $1 billion pool of capital managed by Carlyle’s South America Buyout Fund and Fundo Brasil de Internacionalização de Empresas FIP, a local fund advised by Carlyle and Banco do Brasil. The transaction is expected to close in the fourth quarter of 2012.
“We are proud to partner with the Dubrule family, who has built a tremendous company over the course of 34 years with a solid growth track record and an outstanding management team. We look forward to supporting Tok&Stok in achieving its growth plans,” said Juan Carlos Felix, Managing Director with Carlyle’s South American Buyout team.
Carlyle established its South America Buyouts team in 2008. In Brazil, Carlyle has also invested in CVC, a tourism operator; Qualicorp, a health plan broker and administrator; Scalina, a lingerie manufacturer and retailer; Ri-Happy, a toy retailer; and Grupo Orguel, an equipment rental company.
The Carlyle Group invests in buyouts, growth capital, real estate and leveraged finance in Africa, Asia, Australia, Europe, North America and South America focusing on aerospace & defense, automotive & transportation, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, technology & business services and telecommunications & media. The firm is based in Washington, DC (www.carlyle.com).
“Carlyle’s global resources and impressive local track record were key elements in our decision to have a partner. This is a major milestone for the company and for the family,” said Regis Dubrule.
© 2012 PEPD • Private Equity’s Leading News Magazine • 9-13-12
