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Daymon Worldwide, the retail services and private label company, has been acquired by Bain Capital Private Equity and Chinese supermarket chain Yonghui Superstores for $413 million.

Bain will get a 60 percent stake in Daymon, while Yonghui will get 40 percent.

According to the announcement "Bain Capital Private Equity’s proven operational expertise and globally integrated platform will support the acceleration of Daymon’s global ambitions, enabling it to access increasing demand in Asia’s high growth markets. The firm also brings significant resources which present the company with opportunities to explore strategic acquisitions and accelerated organic growth."

The Reuters story notes that "the global retail market is expected to reach $28 trillion by 2019 at an average annual growth rate of 3.8 percent, while Asia's retail sales are expected to exceed $10 trillion by 2018."
KC's View:
It has been a long run since July 1970, when Peter Damon Schwartz and Milt Sender created Daymon. I got to know Milt a little bit over the years, and always thought of him as being a disruptor, even before that word became commonplace in business settings.

I hope that this is a good move for the people who work at Daymon. I know there have been some layoffs, and there are some folks there who have suggested to me that it was a company struggling to find new relevance in a changed business climate.