Ropes & Gray Advises The TJX Companies, Inc. in its investment in Familia
Ropes & Gray advised The TJX Companies, Inc. in connection with its investment in a 25% minority ownership stake in Familia, Russia’s only major off-price apparel and home fashions retailer. The transaction was completed on Nov. 18. The press release is here.
The $225 million investment gives TJX, the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, the opportunity to invest in an established, off-price retailer with significant growth potential in the Russian market, which has significant potential for continued growth. Familia has 275 stores across Russia, with 50 opening in 2019. TJX operates T.J. Maxx, Marshalls and tjmaxx.com, HomeGoods, Homesense, Sierra, and sierra.com in the U.S; Winners, HomeSense and Marshalls in Canada; T.K. Maxx, Homesense and tkmaxx.com in Europe, and T.K. Maxx in Australia.
The Ropes & Gray team that advised The TJX Companies, Inc. in its investment in Familia was led by securities & public companies partner Joel Freedman, securities & public companies partner Tara Fisher and tax partner David Saltzman (all of Boston) as well as litigation partner Ama Adams (Washington).