Listed, Washington DC-based private equity firm the Carlyle Group will acquire a 60% stake in Tok&Stok, a Brazilian furniture retailer, for an undisclosed price. The company’s founders will retain a 40% stake. Carlyle used capital from its South America Buyout Fund, and another local fund, advised by the firm and Banco do Brasil.
Carlyle buys majority stake in Brazilian retailer Tok&Stok
(Reuters) – Private equity firm Carlyle Group (CG.O) said it bought a 60 percent stake in Brazilian furniture retailer Tok&Stok from the company’s founders for an undisclosed sum.
Tok&Stok’s founders, Ghislaine and Régis Dubrule, will retain a 40 percent stake in the company.
Carlyle said capital for the transaction would come from the $1 billion managed by its South America Buyout Fund and another local fund advised by the firm and Banco do Brasil.
(Reporting by Jochelle Mendonca in Bangalore; Editing by Saumyadeb Chakrabarty)