Boston Global buyout firm Advent International Corp. said Wednesday it has officially completed its acquisition of Charlotte Russe Holding.
Advent's acquisition vehicle, Advent CR Holdings, and its subsidiary Advent CR officially closed the tender offer Wednesday for all of the outstanding shares of common stock of Charlotte Russe.
The completion of the acquisition also marks the privatization of Charlotte Russe as the shares of common stock will cease to be traded on the NASDAQ Global Select Market.
David Mussafer, a managing partner at Advent, said, "…We are excited to begin working to help Charlotte Russe achieve the numerous growth opportunities before it. The company has initiated a number of important steps recently that will improve its operations, financial position and strategic direction.”
Charlotte Russe operates 504 stores in 45 states and Puerto Rico.