Familia (“the Company”), Russia’s leading off-price apparel and home fashions retailer, announces that The TJX Companies, Inc. (“TJX”, NYSE: TJX) has acquired a 25% minority ownership stake in the Company from existing shareholders for USD 225 million. This investment gives TJX the opportunity to invest in Russia’s off-price apparel and home fashions retail market, which has significant potential for further growth.
Familia CEO Konstantin Nadezhdin said: “We are pleased to welcome TJX as a new shareholder. This investment is recognition of Familia’s leading market position and the strength of our off-price business model. TJX has always been the standard we have aspired to at Familia, including their focus on value and operating efficiency. We look forward to moving ahead with TJX as we implement our ambitious growth strategy and take Familia to the next level.”
The minority ownership stake will give TJX the right to elect one representative to the Company’s Board of Directors. Familia’s other shareholders include its founders, Goldman Sachs and Baring Vostok funds. The founders, along with Baring Vostok funds and Goldman Sachs, remain as shareholders of the company and are committed to its long-term growth.
Goldman Sachs International acted as the exclusive financial advisor to the existing shareholders of Familia on this transaction.
About the Company
Familia is a fast-growing and sustainably profitable off-price apparel and home fashions retailer that operates over 275 stores in Russia. It was founded in 2000 and has become a pioneer in Russia’s offprice segment. The Company offers customers from over 90 Russian cities a wide assortment of women’s and men’s clothes, shoes, accessories and household goods.