NEW YORK--The Board of Tory Burch LLC and Christopher Burch have announced an agreement to settle all pending legal claims.
Tory Burch LLC, (the "Company") also announced that BDT Capital Partners, LLC and General Atlantic LLC are making minority investments in the Company; both firms are supportive of the Company's long-term global growth strategies."
"We are thrilled to have BDT Capital Partners and General Atlantic join us as partners," said Tory Burch, CEO of Tory Burch LLC. "They are completely aligned with our long-term approach to building our brand and share our vision for growth globally."
"I am pleased to see the Company complete this milestone transaction. I am confident in its continued success and I look forward to remaining a significant investor," said co-founder Christopher Burch, CEO of Burch Creative Capital.
"BDT Capital is committed to investing alongside and advising entrepreneurs and closely held companies with high-quality brands and strong leadership who seek a trusted, long-term partner," said Byron Trott, Chairman and CEO of BDT Capital Partners. "Tory Burch is an iconic luxury lifestyle brand with incredible growth potential and we are excited and proud to partner with Tory and her talented team." BDT & Company LLC also advised in the transaction.
"As a long-term partner to great management teams, General Atlantic helps propel exceptional companies to their next phase of growth," said Bill Ford, CEO of General Atlantic. "Tory and her team have a unique ability to create accessible luxury clothing and accessories that have broad and lasting appeal. We look forward to working with the Company to continue to build its exceptional brand globally."
Barclays acted as primary financial advisor to Tory Burch LLC.
About Tory Burch
Tory Burch, a privately held company, is an American sportswear brand with a classic sensibility combined with a global and eclectic aesthetic. Launched in February 2004, Tory Burch is carried in 83 freestanding stores across the U.S., Europe, Middle East, Latin America and Asia, over 1,000 department and specialty stores worldwide and at www.toryburch.com.
About BDT Capital Partners
BDT Capital Partners provides family-owned and entrepreneurially led companies with long-term capital, solutions-based advice and access to an extensive network of world-class family businesses. Based in Chicago, BDT Capital Partners is a merchant bank structured to provide advice and capital that address the unique needs of closely held businesses. The firm has a $3 billion investment fund as well as an investor base with the ability to co-invest significant additional capital. Through its advisory business, BDT & Company works with closely held businesses to pursue their long-term strategic and financial objectives.
About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. GA combines a collaborative global approach, sector specific expertise, long-term investment horizon and a deep understanding of growth drivers to partner with great management and build exceptional businesses worldwide. Established in 1980, GA manages $17 billion in capital under management (comprised of total committed capital and portfolio investments) and has more than 80 investment professionals based in Greenwich, New York, Palo Alto, London, Munich, Hong Kong, Beijing, Mumbai, São Paulo and Singapore. For further information and a listing of GA's public and private portfolio companies see www.generalatlantic.com.