Headlines

Sycamore Partners Completes Jones Group Acquisition

$2B deal must still be approved by Jones shareholders

Published

11 years ago

December 20, 2013

steve kaufman

The Jones Group Inc. (New York) has accepted a buyout offer worth more than $2 billion from private equity firm Sycamore Partners LLC (New York), completing what had been long rumored to happen.

Jones, which owns brands including Nine West, Anne Klein and Easy Spirit, put itself up for sale this summer after the activist hedge fund Barington Capital Group LP (New York) took a 2 percent stake in the company.

“This business, which I founded nearly 45 years ago, has expanded into a global portfolio of powerful brands,” said Jones chairman Sidney Kimmel,. “I am proud of our heritage and believe the Jones Group’s brands will thrive through our partnership with Sycamore.”

The deal must still be approved by shareholders, but the company and Sycamore expect to close in the second quarter of next year.

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