EQT purchases 70% of Flying Tiger Copenhagen

EQT Partners, through EQT VI, has agreed to invest in Zebra A/S, the Denmark-based parent company of the successful and fast growing Tiger retail store concept with more than 170 stores across 16 European countries and a recent establishment in Japan.

Tiger, led by CEO and founder Lennart Lajboschitz, started in 1995 as a Danish discount store. Since then, the Company has been through a major evolution and is today an international “fun shopping” concept offering a broad range of affordable products with a Scandinavian design DNA.

Over the last five years, Tiger has had sales growth of more than 25% per year, and last year posted sales of DKK 710 million and EBITDA of DKK 110 million.

In the same period, the Company more than doubled its store network through a combination of fully-owned stores and stores developed by local joint venture partners in the major cities of Europe. This year, the Company has opened 52 stores, including the successful opening of a test shop in Osaka, Japan. At the end of the year, the Company expects to reach 195 stores, with more than 2/3 of the stores located outside of Denmark.

EQT VI will support Tiger in its ambition to become a leading international retail concept, and accelerate the expansion of the Company’s store network.

EQT VI will enter into a partnership with the Company’s current owners, led by founder and CEO Lennart Lajboschitz, who will remain significant shareholders with a 30% ownership stake. Mr. Lajboschitz and his management team will continue to lead Tiger’s development also after the transaction.

The parties have agreed not to disclose the value of the investment.

The transaction is subject to approval by the relevant competition authorities, and is expected to be completed in January 2013.