Bain Capital enters $344M deal to buy parent company of South Korea's athleisure brand

[Hands flag of South Korea, shape a heart. Concept of country symbol, isolated on black.]
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Bain Capital (BCSF [https://seekingalpha.com/symbol/BCSF]) entered a deal to acquire a majority stake in South Korea's Echo Marketing, the parent of activewear brand Andar, in a transaction valued around $344 million.

The U.S. based investment firm is purchasing a 43.66% stake from the founder and another shareholder for 216.6 billion won ($150.14 million), with a tender offer for the remaining 56.4% at 16,000 won per share. Echo Marketing, listed on the Korean exchange, jumped 30% after the news.

Andar is a top athleisure brand since 2021, posting record Q3 revenue of 117.8 billion won. Founder Kim Cheol-ung held the largest stake before the sale.

The deal reflects Bain's active investments in consumer brands, including recent moves in South Korea's beauty and athleisure sectors.

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