France-based investment firm Sagard has entered into an agreement with discount retailer Stokomani president and his management team to acquire Stokomani from buyout firm Advent International.

Sagard partner Frédéric Stolar said the company appreciates the relevance of Stokomani’s model in the current economic environment, where shoppers are seeking quality goods at attractive prices.

"In unfavourable conditions for specialised distribution, Stokomani has increased its turnover by over 15% per year, thanks to a remarkable management team and a permanently renewed offer," Stolar said.

"We are also delighted to be able to finalize this transaction in a difficult LBO market – evidence of the confidence that Stokomani and Sagard hold with senior and mezzanine lenders who are financing the transaction and thank them for that."

Stokomani president Jean-Jacques Namani said the firm succeeded in its development due employees’ talent and the quality of relationships it has with leading French industrial players.

"We are partnering with Sagard because its family shareholding enables it to partner with us over time, while supporting our ambitious programme for opening stores," Namani said.

"Sagard’s offer was definitely the most suited to the demands and the complexity of our activity."

Advent International France head Pascal Stefani said over the past five years, the company’s mission has been to support Stokomani’s growth strategy.

"The results are very positive as the company has more than doubled in size, reaching a turnover of nearly 200 million euros in 2011, through strong organic growth and doubling the number of stores, now at 37," Stefani said.

"Alongside Stokomani’s management, we have increased the number of brands sold, developed private label brands, and opened a purchasing office in Asia as well as a new logistics platform.

"The number of employees has grown from 460 to 1,250. Stokomani holds a unique position and is well placed to begin the next phase of its development."

French specialist discounter Stokomani offers a wide range of brands in the clothing, sportswear, beauty and healthcare, homeware and toy sectors.

The transaction is expected to be finalised by June 2012.