Sycamore Partners to Acquire The Jones Group
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Sycamore Partners to Acquire The Jones Group

jones nfSycamore Partners has entered into an agreement to acquire The Jones Group for approximately $1.2 billion in equity value. Including net debt the transaction, which is expected to close in the second quarter of 2014, has an enterprise value of $2.2 billion.

The Jones Group (NYSE: JNY) is a designer, marketer and wholesaler of over 35 brands in the apparel, footwear, jeanswear, jewelry and handbag markets. The company markets directly to consumers through branded specialty retail and outlet stores, through concessions at upscale department stores and through its e-commerce sites. The company’s brands and licensing jones fagreements are extensive and include: Nine West, Jones New York, Anne Klein, Kurt Geiger, Rachel Roy, Robert Rodriguez, Robbi & Nikki, Stuart Weitzman, Brian Atwood, Boutique 9, Easy Spirit, Carvela, Gloria Vanderbilt, l.e.i., Bandolino, Enzo Angiolini, Nine & Co., GLO, Joan & David, Miss KG, Kasper, Energie, Evan-Picone, Le Suit, Mootsies Tootsies, Grane, Erika, Napier, Jessica Simpson, Givenchy, Judith Jack, Albert Nipon, Pappagallo and Rafe. The Jones Group is headquartered in New York (www.jonesgroupinc.com).

“We are pleased to have reached this agreement, which we believe is a positive development for all of our stakeholders. This business, which I founded nearly 45 years ago, has expanded into a global portfolio of powerful brands,” said Sidney Kimmel, The Jones Group Founder and Chairman of the Board of Directors. “I am proud of our heritage and believe The Jones Group’s brands will thrive through our partnership with Sycamore.”

Sycamore Partners invests in consumer and retail companies. The firm has more than $1 billion of capital under management and is based in New York (www.sycamorepartners.com).

“We are honored that the Board of The Jones Group has entrusted Sycamore Partners as the steward of this portfolio of iconic brands. We look forward to a successful partnership with the company’s talented associates as we continue to serve The Jones Group’s many loyal customers,” said Stefan Kaluzny, Managing Director of Sycamore Partners.

BofA Merrill Lynch and Guggenheim Securities are acting as financial advisors to Sycamore Partners. Citigroup Global Markets is acting as lead financial advisor to The Jones Group and Peter J. Solomon Company is acting as financial advisor to the company’s Board of Directors.

© 2013 PEPD • Private Equity’s Leading News Magazine • 12-20-13

 

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