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...

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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...

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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....

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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...

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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...

Business

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...

Business

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...

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Coach to acquire Stuart Weitzman

Handbags and accessories retailer Coach, agreed Tuesday to acquire women's luxury footwear company Stuart Weitzman from its private-equity owner Sycamore Partners for a total consideration of 574 million dollars (377.92 million pounds), which includes 44 million dollars in (28.9 million pounds) contingent payments. The deal is anticipated to...