Republic to be bought by Change Capital

British fashion retailer Republic is to be bought by private equity firm Change Capital Partners in a deal valued at £105 million. As soon as the deal is signed, the retailer plans on extending its UK retail offering. Republic, which operates 76 stores, sells fashion brands such as Bench Hooch, Replay and G-Star, as well as its own range. The company hopes that the buyout will allow it to further exploit the British young fashion market.

Following completion of the transaction, the chain plans to open stores in some of Britain 's 200 biggest cities and towns, at a rate of 10-20 a year, according to media reports. Change Capital was established in 2003 by former Marks and Spencer boss and current chairman of French retailer Carrefour, Luc Vandevelde. This will be the firm's fourth completed deal since its inception.