Private Equity Firm PAI Buys Lingerie Chain Hunkemoeller

Paris-based buyout shop PAI Partners will buy the Hunkenmoeller lingerie chain from Maxeda Retail Group, Reuters reported. Financial terms of the deal were not released. Hunkemoeller has roughly 500 stores in the Benelux, France and Germany.

(Reuters) – Maxeda Retail Group said on Tuesday it had agreed to sell the Hunkemoeller lingerie store chain to private equity group PAI Partners for an undisclosed amount.

Hunkemoeller has some 500 stores in the Benelux, France and Germany.

Last week, Maxeda agreed to sell De Bijenkorf department stores to the Selfridges Group, owned by Canada’s Wittington Investments.

Maxeda, a unit of KKR [KKR.UL], was formed in 1999 and took on the store chains of the former Vendex KBB group.

It sold the Hema stores to Lion Capital in 2007 and Lion is now trying to sell the chain again.

(Reporting by Marcel Michelson; Editing by David Holmes)