Headlines

True Religion to Go Private

Denim brand will sell to equity firm for $835 million

Published

11 years ago

May 13, 2013

steve kaufman

The private equity firm TowerBrook Capital Partners (New York) has agreed to acquire True Religion Apparel Inc. (Vernon, Calif.) for a reported $835 million.

TowerBrook, which was spun off the investment firm Soros Fund Management in 2005, also once owned the luxury apparel brand, Jimmy Choo shoes (which it sold in 2011 to the German fashion company Labelux Group.) The TowerBrook partner leading the True Religion deal is Andrew Rolfe, a former president of Gap Intl. and ceo of the Pret a Manger fast food chain.

True Religion was started in 2002 by Jeffrey Lubell and Kym Gold. Lubell has said, of the company’s name, “There’s only one real religion and that’s people, and all the people in the world wear jeans.”

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