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Private Equity Firm Purchases Ascena Brands

Premium Apparel, a private equity group that specializes in retail, will pay $540 million for Ascena Retail Group’s Ann Taylor, LOFT, Lane Bryant and Lou & Grey brands, according to BizJournals.com.

Premium Apparel is an affiliate of Sycamore Partners (New York), which owns Belk, Coldwater Creek, Hot Topic, Talbots, The Limited and Torrid.

The move comes after Ascena’s bankruptcy filing in July. Ascena CEO Gary Muto said financial restructuring following bankruptcy maximized the value of the remaining brands after Ascena sold Catherine’s, Justice and Dressbarn.

VMSD Staff

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