City Capital Advises Vera Bradley Shareholders
Chicago, IL – April 18, 2011; City Capital Advisors is pleased to announce that the firm served as financial advisor to the founding shareholders of publicly-held Vera Bradley, Inc. an iconic consumer brand in the ladies fashion accessories industry. Vera Bradley is headquartered in Fort Wayne, Indiana. City Capital provided capital markets advisory services to the Company’s founding shareholders.
City Capital was approached by certain founding shareholders to assist them in achieving increased wealth diversification. As a result, the shareholders successfully sold over $302 million worth of Vera Bradley common shares via a public offering on April 13, 2011. The offering took 18 days to complete from the date of filing the offering until closing. The Company did not raise any capital as part of the offering.
About Vera Bradley
Vera Bradley is a leading designer, producer, marketer and retailer of stylish and highly functional accessories for women. Its products include a wide offering of handbags, accessories and travel and leisure items. Over its 28 year history, Vera Bradley has become a lifestyle brand that appeals to a broad range of consumers that include young girls, teens, college students, young professionals, mothers and grandmothers. The Company generates net revenues by selling products to approximately 3,300 independent retailers, substantially all of which are located in the U.S., as well as select national retailers and third party e-commerce websites. In addition, its Direct business consists of sales of Vera Bradley products through its 31 full price stores, two outlet stores, verabradley.com, and its annual company outlet sale in Fort Wayne, Indiana.
About City Capital Advisors
City Capital Advisors, a FINRA registered broker-dealer, is a results oriented investment and merchant banking advisory firm. Client engagements are managed exclusively by experienced senior investment bankers who deliver business owners optimal performance in capitalizing on the value of their companies and meeting their objectives as shareholders. City Capital’s investment banking professionals have successfully advised clients on merger and capital markets transactions totaling in excess of $60 billion.