Sycamore Partners today announced that it has acquired the Coldwater Creek brand and other intellectual property. Sycamore intends to re-launch Coldwater Creek as an independent portfolio company.
“Coldwater Creek is an outstanding brand with a 30-year heritage and strong support from its loyal base of longtime customers,” said Peter Morrow, a Managing Director of Sycamore Partners. “We are excited about adding Coldwater Creek to our growing portfolio of leading retail brands and look forward to reintroducing the brand to the marketplace.”
The intellectual property was purchased through Sycamore affiliate CWC Direct LLC in conjunction with Coldwater Creek’s ongoing Chapter 11 proceedings in the U.S. Bankruptcy Court in Wilmington, Delaware.
Sycamore Partners raised its first fund in 2011 and currently has in excess of $3.5 billion in assets under management. Sycamore specializes in consumer and retail-related investments and its strategy is to partner with established management teams to improve the operating performance of their businesses. The firm’s investment portfolio currently includes Aeropostale, Coldwater Creek, Hot Topic, Jones New York, the Kasper Group, Kurt Geiger, MGF Sourcing, Nine West Holdings, Pathlight Capital, Stuart Weitzman and Talbots. The firm has more than $1 billion of capital under management and is based in New York (www.sycamorepartners.com).