Rodd & Gunn CEO Mike Beagley buys out investors to take full control
What's the deal? Mike Beagley, chief executive officer of menswear retailer Rodd & GunnDealroom has a profile for this one. Try Dealroom → since 2001, has bought out the company's shareholders to take 100% ownership. The buyout, announced in November 2026, was funded by a multimillion-dollar facility lead-arranged by Peninsula Credit, with KiwibankDealroom has a profile for this one. Try Dealroom → providing working capital. Terms were not disclosed.
What each side does: Rodd & Gunn, founded in 1946 and trading under its current name since 1987, runs more than 300 stores and concessions across 11 countries and sells online and through wholesale partners. Peninsula Credit, a New Zealand lender, manages two funds with more than $145 million under management.
Why now? Private equity firm Winona Capital invested in 2015 to support Rodd & Gunn's international expansion, and its fund timeline had run its course. "Rather than going to the market to find another equity partner, credit was a better option in my view," Beagley said, citing the chance to make the brand "100% New Zealand-owned."
Why credit, not equity? The deal refinanced existing bank debt, funded the buyout, and backed growth in the UK, US, and Canada, alongside operations in New Zealand and Australia. "A buyout and growth across several countries made this a complex deal and it needed more flexibility than a standard bank facility offers," Peninsula Credit managing director Andrew Pryde said.
What's the endgame? Beagley plans to deepen the company's presence in existing markets rather than spread thinly. "We've gone from saying 'hey let's just open in lots of countries' to doubling down and being deeper in the markets we're in," he said. He added that full ownership lets him "keep investing in the brand, and the team behind it, for the long term."
What could go wrong? Rodd & Gunn swung to a $3.7 million net loss in its 2025 accounts after the collapse of a Canadian department-store customer. It responded by opening its own stores in Canada — a move that shows both the upside of direct retail and the execution risk of international growth.
The signal: The deal shows credit emerging as an alternative to a fresh equity round when a private equity backer exits. For Beagley, who held full control once before 20 years ago, it returns a globally expanding retailer to sole New Zealand ownership while it pushes deeper into Northern Hemisphere markets.
Read more: nzherald.co.nz
Image credit: Generated with Gemini
