German affordable fashion chain NKD reportedly looking for a buyer

NKD, a German discount fashion retailer, would have been put up for sale by its private equity owner OpCapita.

As pointed out by sources close to the company, NKD’s private equity owner, OpCapita, would be looking to benefit from high equity valuations.

The investor has reportedly asked Goldman Sachs (GS.N) to find a buyer for the company, which is expected to post earnings before interest, tax, depreciation and amortisation of about 40 million euros and may be valued at 300-350 million euros in a potential deal, added sources quoted by Reuters.

To date, both OpCapita and Goldman Sachs have preferred not to make any comments.

NKD runs circa 1,800 stores in small cities across Germany and Austria and employs about 8,000 staff. In 2016, it posted sales of 680 million euros.