Claire’s Finds New Owner

Apax Partners, an international private equity firm with offices in New York, London, Hong Kong and elsewhere, is believed about to acquire Claire's Stores Inc. (Pembroke Pines, Fla.) in a $3 billion deal.

Claire’s, the 3000-unit retailer of costume jewelry, handbags and accessories, had said in December that it was exploring strategic alternatives for its business, including a possible sale, and that it retained Goldman, Sachs & Co. as an adviser.

According to Great Britain's Sunday Telegraph, the deadline for final bids was last Wednesday, and Apax is believed to be in the lead after other private equity bidders backed out. Apax has already lined up a senior management team for Claire's, the report said, citing an executive close to the situation.

Claire’s was founded in 1961 by Rowland Schaefer. His daughters, Bonnie and Marla Schaefer, each serve as co-chairman and co-ceo. The company, whose stores are primarily in malls, includes Claire's, Claire's Boutiques and The Icing. The chain operates in all 50 U.S. states, Canada, Europe, Japan, Puerto Rico, the U.K. and the Virgin Islands.