 |
|
 
|
|
|
Sign up now for your FREE subscription to the interactive digital magazine.
|
|
Arcapita to take majority stake in chain from Golden Gate
Golden Gate Capital (San Francisco) has agreed to sell a majority stake in J. Jill to an affiliate of Arcapita Bank B.S.C. (Manama, Bahrain), reports Women’s Wear Daily. Financial terms of the deal were not released.
The private equity firm, which purchased the women's specialty retail chain from Talbots Inc. in 2009 for approximately $75 million, will remain a minority shareholder of the company.
J. Jill will continue to be led by president and chief executive officer Paula Bennett and the current management team.
“We have enjoyed a very successful partnership with Paula Bennett and the entire J. Jill team,” says Joshua Olshansky, a managing director of Golden Gate Capital. “J. Jill is a fantastic brand and, given their experience in the sector, Arcapita is well-positioned to continue building upon the company’s long-term growth plan.”
Did you enjoy this article? Click here to subscribe to the magazine.
