LionRock Capital’s Majority Stake Acquisition In C&J Clark Limited

Goodwin Procter LLP advised LionRock Capital on the deal.

LionRock Capital acquired a majority stake in UK shoe manufacturer and retailer C&J Clark Limited (“Clarks”). The cross-border transaction, which will include a £100 million investment in the business, is subject to shareholder approval and a Company Voluntary Arrangement (CVA) that would ultimately move 60 of Clarks’ 320 retail stores in the UK and Republic of Ireland to nil rent. LionRock’s acquisition will allow the world-renowned shoe brand to expand its global footprint, especially into the Asia Pacific region, at a time when the retail industry has been significantly impacted by the COVID-19 crisis.

LionRock Capital is a private equity fund with offices in Zurich, Hong Kong, and Shanghai, which seeks to partner with leading global consumer brands with an emphasis on China expansion.

Clarks, which was founded in Somerset, England, in 1825, has grown into a £1.5 billion global business operating retail, wholesale, franchise and online channels in over 100 markets worldwide supported by nearly 10,000 employees.

The multi-disciplinary Goodwin team, which consisted of lawyers across the firm’s Asia, Europe and U.S. offices, was led by Douglas Freeman, Victor Chen and Daniel Lindsey (Picture) in Hong Kong and Carl Bradshaw and Simon Thomas in London, and included Angus Simpson, Sam Bateman, Gartan Tracey, Horine Ye, Bryan Jin, Anwesha Haldar, Matthew Connell, Oonagh Steel, William Weintraub, Katie Leah, Dominic Wong, Jenny Zhi, Lee Douthitt, Rachel Thurbon, Joshua Angrave, Jacob Osborn, James Brower and Matthew Wheatley.

Involved fees earner: Sam Bateman – Goodwin Procter; Carl Bradshaw – Goodwin Procter; James Brower – Goodwin Procter; Victor Chen – Goodwin Procter; Lee Douthitt – Goodwin Procter; Douglas Freeman – Goodwin Procter; Anwesha Haldar – Goodwin Procter; Bryan Jin – Goodwin Procter; Katie Leah – Goodwin Procter; Daniel Lindsey – Goodwin Procter; Jacob Osborn – Goodwin Procter; Angus Simpson – Goodwin Procter; Oonagh Steel – Goodwin Procter; Simon Thomas – Goodwin Procter; Rachel Thurbon – Goodwin Procter; Gartan Tracey – Goodwin Procter; William Weintraub – Goodwin Procter; Matthew Wheatley – Goodwin Procter; Dominic Wong – Goodwin Procter; Horine Ye – Goodwin Procter; Jenny Zhi – Goodwin Procter;

Law Firms: Goodwin Procter;

Clients: LionRock Capital;

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Author: Michael Patrini