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Noni B builds on a bumper year

Australia’s women’s apparel industry has been something of a no-go zone for private equity, although there was some interest in Specialty Fashion Group brands earlier this year. A private equity offer to the board of the publicly listed Specialty Fashion Group did not proceed, but an offer from another suitor with finance industry credentials did materialise. Noni B acquired five retail brands from Specialty Fashion Group for $31 million last July in a transaction that has stabilised the