Bryan, Garnier & Co announces the disposal of Le Jardin de Catherine, leading e-Commerce website on Garden Equipment in France, to Group Mr Bricolage

Paris, July 6th 2012 - Bryan, Garnier & Co, the independent pan-European Investment Bank focusing on growth companies, announces the completion of the disposal of Le Jardin de Catherine, leading e-Commerce website in France on the Garden Equipment and Home Equipment, to Group Mr Bricolage. Through this transaction, Mr Bricolage is acquiring 75% of Le Jardin de Catherine’s capital.

Bryan, Garnier & Co acted as exclusive financial advisor to the sellers.

Founded in 2006, Le Jardin de Catherine operates two e-retailing websites, www.le-jardin-de-catherine.com and www.la-maison-de-catherine.com, specialized in Garden and Home equipment. The company offers a range of c. 7,500 products (garden tools and furniture, swimming pools & spas, Do It Yourself products, home equipment products,…).

Aggregating a monthly traffic of c. 1.4 million UV (Unique Visitors), Le Jardin de Catherine reported revenues of c. €25m (VAT incl.) over the last 12 months, pursuing its dynamic growth path. Le Jardin de Catherine’s team, of c. 50 people, serves a base of 400,000 clients.

Le Jardin de Catherine will be integrated to Group Mr Bricolage, 1st independent retailer in France on the DIY industry. The group operates a multi-brand channel with more than 580 stores and federates around 280 affiliates. The group acts under the main following brands: Mr. Bricolage, Catena, Les Briconautes, Les Jardinautes and L’Entrepôt du Bricolage. Mr Bricolage is a major multi-local player, present in 11 countries (62 stores abroad). With a team of c. 12,000 employees, the group’s channels realize an annual gross revenues of €2.3bn (VAT incl.).

The transaction is on the acquisition by Mr Bricolage of a 75% stake in Le Jardin de Catherine, on an Enterprise Valuation basis of €15m. Founders hold a 25% stake in the capital and Mr Bricolage has a call option to buy-back within a 3 to 5 years period, according to coming results, founders’ 25% remaining stake.

This operation also ensures the exit of historical PE investors, Sigma Gestion and CM-CIC, which had supported Company’s development since 2007 via capital increases.

Catherine and Eric Poncin, founders of Le Jardin de Catherine, said: "Our exchanges with the management of Mr Bricolage confirmed the strong interest in combining our respective know-how. This cross-canal development project with the most important multi-local independent DIY retailer in France is very exciting, all the more in an environment in which complementarity between traditional retail and e-Commerce is crucial".

Mathieu Daouphars, Director at Bryan, Garnier & Co, said: "This new operation realized by Bryan, Garnier & Co on the e-Commerce segment shows the convergence of on- and off-line distribution channels".

Virginie Lazès, Partner at Bryan, Garnier & Co, said: "In 2011, Bryan, Garnier & Co realized 5 Internet operations, both M&A and ECM transactions. In 2012, Le Jardin de Catherine is our 3rd operation on the Internet, which confirms our leading Investment Bank position on the web sector".

For more information, please contact:

• Mathieu Daouphars / Director - Corporate Finance / +33 1 56 68 75 62 / mdaouphars@bryangarnier.com
• Pauline Roux / Analyst - Corporate Finance / +33 1 56 68 75 24 / proux@bryangarnier.com

Le Jardin de Catherine: www.le-jardin-de-catherine.com

Le Jardin de Catherine operates eCommerce websites offering a wide range of 7,500 products on the garden and home equipment segment. With a team of c. 50 people, the Company realized over the past 12 months revenues of €25m (VAT incl.), serves more than 400,000 clients and has delivered more than 600,000 orders since its foundation.

Group Mr Bricolage: www.mr-bricolage.com

Mr Bricolage [Euronext Paris FR0004034320, Eurolist C] is France's #1 local DIY retailer (581 stores) and has 62 stores in 10 other countries. The Group manages the Mr Bricolage, Catena, Les Briconautes, Les Jardinautes and L’Entrepôt Du Bricolage chains and also has 279 affiliates. With almost 12,000 employees, the Group’s networks represent total annual turnover of some €2.3 billion (VAT incl.).

About Bryan, Garnier & Co

Bryan, Garnier & Co is an independent investment bank specialized in European TMT, Healthcare and Renewable Energies growth companies. Bryan, Garnier & Co is positioned in three activities: Equity Research & Brokerage, Asset Management and Corporate Finance.

With more than 150 professionals based in London, Paris, New Delhi, New York and Geneva, Bryan, Garnier & Co combines the range of services and the expertise of top-tier investment banks with the level of attention to clients of a boutique.

Through its corporate finance practice, Bryan, Garnier & Co has became a leader in advising European growth companies on strategic finance transactions such as mergers & acquisitions, equity capital market, LBOs and private placement over the last three years.

Bryan, Garnier & Co is authorized and regulated by the Financial Services Authority (FSA) in the United Kingdom, and is member of London Stock Exchange and Euronext, Alternext ListingSponsor, and is active on all European capital markets.