Bloomberg

Bain Capital Private Equity has acquired a majority stake in retail marketing firm Daymon Worldwide. The PE firm is looking to expand the target in Asia, where the middle class is growing. Financial terms were not disclosed.

Daymon, founded in 1970 and located in Stamford, Connecticut, helps retailers with brand development and strategy, marketing, merchandising and logistics. The target works with more than 1,700 brands and 100 retail companies. Daymon’s management team will remain in place.

Bain Capital says there is a “significant shortage of expertise in brand development, brand strategy, merchandising services, among other areas, which is needed to support the strong growth within Asia’s retail market.” The PE firm adds that retail sales in Asia are expected to surpass $10 trillion by 2018.

“The firm’s extensive experience in global consumer and retail industries will be key as we work to accelerate the growth of our company,” says Daymon CEO Jim Holbrook.

Bain Capital is a Boston-based private equity firm that has made more than 270 investments since its inception in 1984. The firm’s invests in industries, including: consumer and retail, financial services, business services, healthcare, industrials, and technology media and telecommunications. In December, the firm announced plans to purchase memory foam maker Innocor from Sun Capital.

Consumer and retail companies, including beauty product distributors, have been looking to grow in Asia through M&A. The Estée Lauder Cos. (NYSE: EL) invested in Have & Be Co.; L’Oreal SA acquired IT Cosmetics from TSG Consumer Partners for $1.2 billion; and Revlon Inc. bought Elizabeth Arden for $870 million.

Bank of America Merrill Lynch advised Bain Capital.

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