Jones Group’s new owner rumoured to be splitting up brands
19/02/2014
The private equity firm said it plans to transfer ownership of assets including the Jones Apparel, Kurt Geiger and Stuart Weitzman to separate controlled affiliates of Sycamore via carve-out transactions, which it will maintain ownership of, at least initially.
footwear company Nine West Co and denim producer Jeanswear Co will stay with the main group.
On February 19, Sycamore will launch $255 million in debt financing to fund its acquisition and carve-out of Stuart Weitzman, said sources.
Private equity firms have made a raft of purchases in the footwear sector in recent months, see the upcoming edition of World Footwear, published February 24, for a closer look.
Share this story:
