Allegro Funds (“Allegro”) announces that it has fully exited its investment in Best & Less Group (“BLG”).
On 5 June 2023, Allegro accepted the off market offer from BRRC Admin 1 Pty Ltd (“BBRC”), an entity owned by Brett Blundy and Ray Itaoui, to acquire all outstanding shares in BLG for $1.89 per share. Allegro had previously indicated that it would accept the offer, subject to there being no superior proposal. In absence of a superior competing offer, Allegro exited its remaining interest in BLG on 5 June 2023.