Sycamore Partners news and archive

Sycamore may take Nordstrom private

New York-based private equity firm Sycamore Partners has set its sights on acquiring U.S. department store group Nordstrom, with plans to take it private. Following discussions held by Nordstrom CEO Erik Nordstrom and President Pete Nordstrom with the chain's board last month, the company confirmed its exploration of the possibility of...

BusinessFeatured

Chico’s FAS becomes part of Sycamore Partners KnitWell Group

Private equity firm Sycamore Partners has announced the completion of its acquisition of Chico’s FAS in an all-cash transaction valued at approximately one billion dollars. Following the acquisition, the apparel group is now a privately held company and part of KnitWell Group, a holding company created last year by the private equity firm that...

ManagementFeatured

Sycamore snaps up Chico’s in one billion dollar deal

Private equity firm Sycamore Partners has announced the acquisition of Chico’s FAS for a substantial one billion dollars, with the move to also see the apparel group become a privately held company upon completion of the transaction. Shareholders at Chico’s will each receive 7.60 dollars per share in cash as part of the agreement, with the...

Business

Sycamore merges brands to form KnitWell Group

Private equity firm Sycamore Partners has formed a new holding company comprising apparel brands Ann Taylor, Loft and Talbots. Under the banner of KnitWell Group, the three labels generate more than three billion dollars in annual sales, positioning the group as one of the largest specialty apparel companies in the US, according to Sycamore....

Business

Sycamore Partners could potentially acquire J.C. Penney

Sycamore partners, a private equity firm, is in preliminary talks to acquire J.C. Penney Co Inc out of bankruptcy. The news was reported by Reuters. J.C. Penney is currently in negotiations with creditors, but should these negotiations fail acquisition by Sycamore is an option. In May, J.C. Penney filed for bankruptcy protection after the...

ManagementFeatured

L Brands and Sycamore mutually call off Victoria’s Secret deal

L Brands, Inc. and Sycamore Partners have reached a mutual agreement to terminate their previously announced transaction to take Victoria’s Secret private. Last month, Sycamore sent a notice to L Brands intending to terminate the sale deal of a 55 percent interest in Victoria’s Secret Lingerie, Victoria’s Secret Beauty and Pink. It also filed a...

Report

Sycamore seeks to terminate acquisition of Victoria's Secret

L Brands, Inc. has announced that it has received a notice from Sycamore Partners intending to terminate the sale deal of a 55 percent interest in Victoria’s Secret Lingerie, Victoria’s Secret Beauty and Pink. Sycamore Partners informed L brands about its decision to pull out of the deal on Wednesday and also filed a lawsuit in the Court of...

Business

L Brands nears deal to sell Victoria’s Secret to Sycamore Partners

L Brands is nearing a deal to sell ailing lingerie brand Victoria’s Secret to private equity company Sycamore Partners, according to a report published by CNBC on Sunday night. Quoting sources familiar with the matter, the report says the deal could be announced as early as this week. L Brands’ owner Leslie Wexner is under mounting pressure due...

Report

Chico’s rejects takeover bid from Sycamore

Chico's FAS, Inc. has rejected the unsolicited proposal received from Sycamore Partners on May 10, 2019 to acquire the company for 3.50 dollars per share in cash. The company said that after reviewing the proposal in consultation with its independent financial and legal advisors, its board reached a conclusion that Sycamore's proposal...

Business

Nine West to acquire Kasper Group

Nine West Holdings has entered into a definitive agreement to acquire the Kasper Group as it looks to expand its brand portfolio, which already includes Nine West, Anne Klein and Gloria Vanderbilt. The company revealed that it used the net proceeds from the December 2016 sale of its Easy Spirit wholesale business to purchase the Kasper Group....

Management|UPDATE Featured

Cinven confirms Kurt Geiger takeover

European private equity firm Cinven has confirmed previous rumours that it is set to acquire leading UK footwear and accessories retailer from Sycamore Partners early Monday morning. "We are delighted to be welcoming Cinven as our partners as they share our long term vision for the business,"said Neil Clifford, Chief Executive at Kurt Geiger....

BusinessFeatured

Jones New York to close this year

Sycamore Partners, the private equity firm that acquired the Jones Group for 2.2 billion dollars, including debt last year, has announced that it is shutting down the Jones New York brand as it pursues “strategic alternatives”. The company stated that it plans to discontinue the Jones New York brand with the closure of the line’s wholesale...