The amount of the transaction, which is still subject to approval from antitrust authorities and is expected to be concluded during the first quarter of 2012, was not publicized.
Led by Chairman Karsten Thiel, Strauss, a private-label retail chain well known for its innovative assortment concept, combining interior decor with women’s and men’s apparel, has approximately 100 stores in Germany and around 1,100 employees.
It was acquired by EQT Opportunity in 2008 and revenues for 2010 amounted to almost €170m.
Sun European Partners intends to help the company develop even further. In the last two years, Strauss has launched its online shop, opened two new stores in Hannover and re-opened the Bonn store. Additional store openings and refurbishment and modernization of the existing store portfolio are planned for 2012.