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Private Equity Firms Look at Jones Group

KKR, Sycamore Partners reportedly planning a joint bid

Published

11 years ago

September 13, 2013

steve kaufman

Private-equity firms KKR & Co. L.P. (New York) and Sycamore Partners (New York) are reportedly considering a joint bid for The Jones Group Inc. (New York), according to Reuters.

The footwear and apparel maker has put itself up for sale and a number of private-equity firms, as well as companies within the apparel and retail industries, have shown interest.

Jones Group owns and licenses a number of apparel brands, including Anne Klein, Nine West and Stuart Weitzman. They sell to department stores such as Macy’s and Nordstrom and also operate about 150 branded stores.

Over the summer, Jones hired advisers to help it explore a possible sale of the company. It has been pursuing a turnaround focusing on higher-margin accessories and shoes since the spring, when activist hedge fund Barington Capital Group (New York) took a significant stake in the company and got a seat on the board of directors.

Sycamore Partners is the company that took Hot Topic Inc. (City of Industry, Calif.) private in March, in a $600 million deal.

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