Deal Detail

Burlington Coat Factory to Bain Capital

EV / LTM EBITDA

7.2x

EV / LTM Sales

Enterprise Value

$2.0B

Primary Source

Fairness Opinion

Comparable Transactions

General Retail transactions announced in the five years to January 2006. 13 with a disclosed multiple.

Date	Target	Acquiror	Enterprise Value	EV/Sales	EV/EBITDA	Type
Jan 2006	Hudson's Bay Company	Maple Leaf Heritage Investments	$1.6B	-	8.1x	Financial
Dec 2005	Murray's	CSK Auto	$170M	-	8.5x	Strategic
Nov 2005	Linens n Things	Apollo Management	$1.3B	-	8.8x	Financial
Oct 2005	Northern Department Stores	Bon-Ton Stores	$1.1B	-	6.7x	Strategic
May 2005	Neiman Marcus	TPG, Warburg Pincus	$5.2B	-	10.3x	Financial
Apr 2005	Electronics Boutique Holdings Corp.	GameStop Corp.	-	-	10.7x	Strategic
Mar 2005	Toys “R” Us	Private equity consortium	$6.2B	-	9.4x	Financial
Feb 2005	May Department Stores	Federated Department Stores	$17.0B	-	8.6x	Strategic
Nov 2004	Sears	Kmart	$14.8B	-	7.3x	Strategic
Nov 2004	Barneys New York	Jones Apparel Group	$400M	-	8.6x	Strategic
Jul 2004	Mervyn's	Cerberus Capital	$1.6B	-	6.2x	Financial
Jun 2004	Marshall Field's	May Department Stores	$3.2B	-	13.5x	Strategic
Oct 2003	GNC Corp.	Apollo Management LLC	-	-	8.1x	Financial
	Mean			-	8.8x
	Median			-	8.6x

Source-specific multiples and notes for this transaction.

Comp	Primary?	Source Type	Source	Source Advisor	Source Year	EV (USD)	EV/Sales	EV/EBITDA	EV/Fwd EBITDA	Note	Citation
	Primary	Fairness Opinion	JCG FO	Perella Weinberg	2011	$2.0B	-	7.2x	-	-	Open