Berlin Brands Group raises $700 mln as Bain takes stake

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U.S. private equity firm Bain has taken a minority stake in Berlin Brands Group (BBG) as part of a $700 million financing deal, which means the German e-commerce company joins the ranks of "unicorn" start-ups valued at $1 billion or more. The Berlin-based company, which owns brands such as Auna, Klarstein and Blumfeldt, said it had raised $700 million in additional debt and equity financing to fund growth of its direct-to-consumer brand portfolio, which it markets via Amazon and other channels. Bain is buying all the shares of minority shareholder Ardian, while founder Peter Chaljawski and his management team will retain the majority.