Largest asset sale to date

Bras N Things (BNT) was created in 1986 with BBRC’s purchase of a three-store franchise called the Bra Shop, and has grown into a leading specialty retailer of intimate apparel with 170 stores across Australia, New Zealand and South Africa. BNT also has a fast growing e-commerce platform.

BBRC completed the sale of BNT to HanesBrands Inc. (NYSE: HBI) in Feburary 2018 for US$400m. Prior to this, 50% of BNT had been sold in 2008 and then fully repurchased in 2013 by BBRC. During this period of time, BBRC generated an annualized return of 92% and 11x money multiple.