Endless LLP has sold UK-based Antler, a luggage brand, to ATR Holdings Limited. No financial terms were disclosed. Bryan Cave Leighton Paisner advised ATR while Shoosmiths advised Antler Management.
Antler, Britain’s longest established luggage brand, has been sold by UK based private equity investor Endless LLP, to ATR Holdings Limited (“ATR”), an associated company of Strandbags, Australasia’s leading luggage and accessories retailer.
ATR has acquired the entire share capital of Antler, bringing new investment to the business, which employs over 200 staff and is headquartered in London.
Endless acquired Antler in 2017, following a period of heavy losses over many years under previous ownership. Under the stewardship of Endless the business was restructured, including the appointment of Mark Hall as Executive Chairman and Ken Pratt as CFO. Antler has seen an improvement in underlying earnings of almost £4 million, introduced stylish new product ranges to widespread acclaim and significantly enhanced its E-Commerce capability following investment in new product development and digital marketing.
An Endless spokesman said:
“Antler has made fantastic progress after reorganising its underlying operations and transforming its offering, leaving it well placed for longer term scaling and growth. We’re delighted that ATR has chosen to invest in this iconic global brand and we wish the purchaser and all of Antler’s employees a highly successful future.”
Felicity McGahan, Managing Director of Strandbags said:
“We welcome this association with Antler. We at Strandbags have admired the Antler brand for some time, and we look forward to working with the Antler team to help support their growth ambitions in the UK and international markets.”
Endless LLP is a UK based transformational private equity investor. Endless looks to support buyouts, non-core acquisitions from larger groups, turnarounds and financial restructurings.
Strandbags is the largest retailer of luggage and accessories in Australia and New Zealand with a retail store network of approximately 300 stores.
Endless was assisted by Rickett Mitchell and Addleshaw Goddard. ATR was advised by Bryan Cave Leighton Paisner. Antler Management were advised by Shoosmiths.