Burlington Going For $2B

BURLINGTON, NJ-Private-equity firm Bain Capital Partners is buying the 367-store chain Burlington Coat Factory for about $2.06 billion, or $45.50 per share. The deal comes after a June announcement by Burlington executives saying that they were “exploring possible strategic alternatives for the company to enhance shareholder value.”

This is the second multi-billion dollar retail deal for Bain in the last month. In December, the firm and a group of investors agreed to acquire the Dunkin’ Donuts chain for about $2.4 billion. Last March Bain, as well as Kohlberg, Kravis, Roberts & Co. and Vornado Realty Trust, bought the Toys “R” Us chain for $6.6 billion.

Bain is not the only private-equity firm investing in the retail industry as of late. Last month Sun Capital Partners bought discounter ShopKo Stores for close to $880 million. Also in December, a joint venture between Prentice Capital Management LP and GMM Capital LLC took Goody’s Family Clothing private for about $290 million.