Lion Capital is in advanced discussion to sell its 85 percent stake in the specialty outdoor retail chain A. S. Adventure to another European private equity investor, according to reports by European media.
Both Retaildetail.eu and Sport-Partner.nl reported that Lion Capital is negotiating a sale of the business to the French
private equity firm PAI, which is one of Europe's largest private equity firms. A.S. Adventure founder and ex-CEO Emiel Lathouwers owns 10 percent
of the company, while management owns the remaining 5 percent, according
to an unattributed report published by Retaidetail.eu.
A.S. Adventure Group is a specialty retailer of outdoor equipment and clothing, operating a network of retail stores in Belgium, Luxembourg and France under the AS Adventure brand, in the United Kingdom under the Cotswold Outdoor brand, and in the Netherlands under the Bever brand. The Group’s product offering includes biking, trekking, climbing, skiing and camping accessories in addition to casual outdoor clothing across an extensive range of leading outdoor brands and the company’s own-label offering. The company had sales of €360 million in fiscal 2013, according to Lion Capital's web site.
Lion Capital invested in A.S. Adventure in 2008. Reports surfaced last year that Lion's Capital was seeking to spin off the company in an IPO after failing to find buyers. Those plans have reportedly been reversed.
