Sycamore Partners acquires The Jones Group for USD2.2bn
Private equity firm Sycamore Partners has completed its acquisition of The Jones Group, a designer and marketer of clothes and shoes, in a transaction valued at approximately USD2.2bn.
"We are excited to have finalised the acquisition of The Jones Group and are confident this will be a long and successful partnership," says Stefan Kaluzny, a managing director of Sycamore Partners. "We look forward to working with The Jones Group team to continue to grow this outstanding portfolio of businesses and brands and create exceptional products for our customers."
Wesley R Card, The Jones Group chief executive officer, says: "We are very pleased to have completed this transaction, which delivers meaningful value to all of our shareholders. Sycamore Partners' extensive knowledge and expertise in the consumer and retail space will allow The Jones Group's brands to reach their full potential and continue to resonate with our loyal customers."
As a result of the completion of the merger, the common stock of The Jones Group is no longer listed for trading on the New York Stock Exchange.
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