Ares Buys Redback Boots Stake in Australia Private Equity Debut

Ares Management Corp. made its first private equity investment in Australia with the acquisition of a majority stake in Redback Boots Co Pty.

The deal values Redback Boots at an enterprise value of over A$100 million ($66.4 million), according to a person familiar with the matter. A representative for Ares declined to comment.