Wallace advises on sale of high street retailer Blue Inc 

March 2006

Wallace last month completed the sale of the entire issued share capital of high street fashion retailer Blue Inc (formerly Mr Byrite) to Marlow Retail. The company plans to widen Blue Inc’s customer base after being ‘impressed with the quality of the business’. Wallace acted for the shareholders of A Levy & Sons, the holding company of Blue Inc.

Blue Inc has over 30 retail outlets throughout the UK. The popular ‘straight talking, no-nonsense’ male fashion retailer counts Levi’s and Ben Sherman amongst its leading brands and boasts a presence on many high streets and shopping centres around the country, including Lakeside and Bluewater.

The transaction involved corporate, commercial and property elements.

Managing partner Rex Newman led the corporate team, supported by associate Charlotte Wheeldon, while partner Martin Otvos managed the property aspects of the deal. Rex Newman said: “We are extremely pleased to have delivered a successful result for our client with whom we have enjoyed a strong relationship for many years.” It has been a busy start to the year and we are already immersed in a number of similar such matters.”

Howard Kennedy acted for Marlow Retail.

The firm’s corporate department is currently very busy with a number of other M&A deals. Wallace is currently acting for the buyer of property companies worth over £22.5 million. As well, we have recently completed the acquisition of a hedge fund manager in Guernsey. We have also just completed the disposal of an international data and software business, with a deal value of over £16 million.