Headlines

Ascena Retail Group Sells Stake in Maurices

Company will maintain minority interest, retain some support operations

Published

6 years ago

March 26, 2019

kmpeyton

Mahwah, N.J.-based Ascena Retail Group has sold its majority stake in women’s clothing brand Maurices (Duluth, Minn.), accepting an offer from affiliate private equity firm OpCapita LLP (London) to purchase the chain for about $300 million. Ascena will receive roughly $200 million in cash from the deal while keeping a minority interest in the company.

Transitioning its role with the retailer, Ascena will continue to support Maurices through its IT, supply chain, sourcing and some office functions, according to The Columbus Dispatch. Ascena said earlier this month that its apparel brands in the “value fashion” unit, including Maurices and Dress Barn, were at an “unacceptable level of profitability.”

Ascena is the parent company for other retail brands Ann Taylor, Lane Bryant and Justice.

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design