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ARC Capital sells stake in Goodbaby International

Thu, 10th Jan 2013 14:43

Closed-end investment company ARC Capital has sold its stake in the Hong Kong-listed company Goodbaby International.

Together with a small realisation in November 2010 during its public listing, Arc Capital's investment in Goodbaby International realised a total of $64.5m, representing an IRR of 18.23% and a gross cash multiple of 2.8 times.

In 2006, Arc Capital invested $23.9m for a 25.3% ownership stake in the Goodbaby Group which would later be reorganised into two separate businesses, Goodbaby International, comprising the design, manufacturing and international branded sales businesses and Goodbaby Private, the domestic retailing platform.

Goodbaby International was publicly listed on the Hong Kong stock exchange in November 2010 and Arc Capital's board approved a plan to sell down its stake in Goodbaby International in September 2012. Arc Capital continues to hold its minority stake in Goodbaby Private which was valued at $3.5m on September 30th.

Rachel Chiang, Managing Partner of ARC Capital Partners, said: "Goodbaby was one of the first investments ARCH [Arc Capital] completed when it was launched in June 2006, and we are pleased to have been part of Goodbaby's significant growth over the years and its successful public listing."

The group stated that the proceeds of the sale would be distributed to shareholders in the near future.

Arc Capital's share price was up 5.57% to $0.59 at 14:28.


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