Torex Retail Announces Investment by General Atlantic

BANBURY, OXFORDSHIRE--Torex Retail Holdings Limited (Torex Retail), a leading provider of retail systems solutions, today announced that General Atlantic LLC (GA), a leading global growth equity firm has completed a transaction to acquire a 33% equity share in the entity. This strategic investment demonstrates General Atlantic's confidence in Torex Retail as it continues to provide world class products to a growing client base of the world's premier retailers.

General Atlantic has a history of long-term investments and brings a wealth of knowledge, global reach and expertise in the technology sector to Torex Retail's operations. GA's approach as a value-added investor with a reputation for helping build market leaders complements Cerberus's recent acquisition of Torex Retail and supports the company's mission to be the leading solutions provider to retailers around the globe.

"General Atlantic and Cerberus's investments in Torex Retail stem from recognition of the quality of our solutions, the loyalty of our customers, the retail expertise of our people and the company's strong position in a number of key global markets. The new leadership team at Torex Retail previously had a successful partnership with Cerberus and General Atlantic at SSA Global and we recognize the value that they add. We are excited to be working with these two knowledgeable investors again," said Michael Greenough, Torex Retail Chairman and CEO.

Two GA managing directors, Marc F. McMorris and Florian P. Wendelstadt, will be joining the Torex Retail Holdings Limited board of directors.

About Torex Retail
Headquartered in Banbury, Oxfordshire, Torex Retail employs 2,100 staff across 19 countries and is the world's leading provider of retail systems. Torex provides software, hardware and services that power many of the world's largest retailing operations including Tesco, Selfridges and Argos among a client list that features over 6000 customers.

The systems developed by Torex cover every aspect of retailing from in-store point of sale and merchandising, to back office planning and scheduling, to head office performance and productivity management. The company has proven the success of its systems across all sectors of retail including high street and out of town store retailing, hospitality, petroleum and convenience. For further information please go to www.torexretail.com 

About Cerberus
Established in 1992, Cerberus Capital Management, L.P. is one of the world's leading private investment firms with approximately $25 billion under management in funds and accounts. Through its team of more than 275 investment and operations professionals, Cerberus specializes in providing both financial resources and operational expertise to help transform undervalued companies into industry leaders for long-term success and value creation. Cerberus is headquartered in New York City, with affiliate and/or advisory offices in Atlanta, Chicago, Los Angeles, London, Baarn, Frankfurt, Tokyo, Osaka and Taipei. More information on Cerberus can be found at www.cerberuscapital.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Torex Retail:
Julian Tanner
Axicom
Julian.Tanner@axicom.com
+44 (0)20 8392 4051

General Atlantic:
Pat Hedley
phedley@generalatlantic.com
+1 (0)203-629-8658