The bid comes after a $6.75-per-share offer from Sears Holding Corp. late last year that was apparently marred by the two parties failing to sign a confidentiality agreement. An original agreement was signed with Catterton on Nov. 8, valued at $267 million.
Restoration will take competing proposals from other entities, including Sears, until Feb. 28. If the Catterton-Restoration deal goes through, the parties expect to close the acquisition by the end of the first quarter.
Greenwich, CT-based Catterton Partners is a $2-billion private-equity fund. Retailers in which it has invested in the past include Baja Fresh Mexican Grill, Build-A-Bear Workshop and P.F. Chang's China Bistro.
During the nine-week holiday period that ended Jan. 5, Restoration's net revenue was $171.5 million, down 1% from the same year-ago period. The retailer posted a $12.9-million loss during its third quarter, which ended Nov. 3.
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