Seafolly plucks swimwear rival Tigerlily out of administration
The deal, struck within ten weeks of Tigerlily entering administration, is expected to see Seafolly relaunch the brand early next year.
Swimwear retailer Seafolly has acquired rival brand Tigerlily, ten weeks after it fell into administration.
Capital Brief has confirmed Sydney private equity firm Crescent Capital Partners sold the swimwear and apparel brand via a deed of company arrangement for an undisclosed price. Investment management firm Mawson advised on the deal.
Seafolly – owned by Hong Kong-registered Bondi Brands Group – is now expected to relaunch the Tigerlily brand early next year following a restructure, sources with knowledge of the deal said.
It marks yet another lease on life for Tigerlily, which entered administration twice in four years.
