Coast2Coast’s consumer goods platform Bounty Brands announced the acquisition of 100% of Musgrave Agencies, a designer, importer and distributor of quality apparel brands, from private shareholders in an all-cash deal last week. Terms and valuation of the deal were undisclosed. The transaction creates a significant apparel platform within Bounty, and provides an established distribution network to the market.
Musgrave, headquartered in Durban, was founded in 1985 and now has more than 100 employees. It owns the sole license to the Jeep apparel brand in South Africa, which contributes a significant portion of the company’s revenues, along with its own outdoor utility brands as well as other complementary brands under license. All branded goods are sold through major retail chain outlets and other leading independent retailers. The deal is a good fit for Bounty’s strategy of investing in market-leading, defensible consumer brands.
In large part, Coast2Coast’s deal team sourced, managed and executed the requisite elements of the transaction.