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01/22/2006

Bain Capital will acquire Burlington Coat Factory for $2.06 Billion

Last week, Burlington Coat Factory Warehouse Corporation announced that it has signed a definitive merger agreement to be acquired by affiliates of Bain Capital Partners, LLC. Bain Capital will acquire all of the outstanding shares of Burlington Coat Factory Warehouse Corporation for $45.50 per share in cash, for a total consideration of approximately $2.06 billion.

Burlington Coat Factory has a large variety of everyday clothes at low prices. They have different divisions, including coats, ladies sportswear, men�s wear, baby furniture and accessories, shoes for the whole family, and home decor and gifts. Burlington Coat Factory, has grown in the last 35 years from a single store selling coats to a multi-department retail chain with 367 stores in 42 states, mainly under the "Burlington Coat Factory" name.

"We are thrilled that a transaction with Bain Capital delivers significant value to our stockholders," said Monroe Milstein, Burlington Coat Factory's Chairman, President and CEO. "We are very proud of what the Company has accomplished over the past 30 years."

"Burlington Coat Factory is a well-managed retail business with a strong consumer following, high-quality product offerings, and good growth prospects," said Jordan Hitch, a Managing Director at Bain Capital. "We are delighted to have the opportunity to partner with the experienced management team to build on the company's track record of success in merchandising and store operations and to continue to grow the store portfolio."