About Sycamore Partners. is to partner with management teams to improve the operating profitability and strategic value of  Since its inception, GTCR has invested more than $15 billion in over 200 companies. am confident that John’s leadership experience and business acumen will be tremendously beneficial  COLUMBUS, Ohio-- Fashion apparel retailer Express, Inc. (NYSE: EXPR) today announced that it has entered into a definitive loan agreement with Sycamore Partners as lead lender, along with Wells Fargo and Bank of America Merrill Lynch, that strengthens its liquidity position by an additional $140 million. Pathlight Capital, LLC, a portfolio company of Sycamore Partners, acted as Syndication Agent on the transaction. "I am confident that my colleagues and I will benefit greatly from Michael's unique insights as we work to achieve our long-term goals. "We are pleased to have completed this transaction and look forward to partnering with CEO Shira Goodman and the Staples management team as we seek to increase long-term profitability," said Stefan Kaluzny, Managing Director of Sycamore Partners. Tickers AMZN BPY JCPNQ LB. Mr. Clifford and the other members of the Kurt Geiger management team are all reinvesting in the company and will hold a significant stake going forward. New York City’s Head Start and Day Care Programs. Sycamore Partners is a private equity firm based in New York specializing in consumer and retail investments. Mr. Lederer was most recently associated with Oak Hill Capital, advising it on acquisitions in the  Sycamore Partners’ first fund, Sycamore Partners, L.P., closed in 2012 with limited partner commitments of $1 billion. And Gregg Marks will be Chief Executive Officer of the Kasper Group, which he has led for the last 30 years. Residence. ", "I am honored to join the Talbots Board," said Mr. Weiss. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Sycamore Partners, After Exiting the Victoria’s Secret Deal, May Now Buy JC Penney Several possible acquisition deals are rumored, driving Penney’s stock higher. Premium Apparel has committed to retaining a substantial portion of the retail stores, associates, and corporate operations affiliated with these brands. This acquisition is the second for NBG in less than two years under the ownership of private equity firm Sycamore Partners. This filing does not constitute a solicitation of any vote or approval. From Benzinga. SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS. In connection with the closing, Harlan Kent has been named Chief Executive Officer of Pure Fishing. ", Stefan Kaluzny, Managing Director of Sycamore Partners, said, "I have known Michael as a friend and colleague for many years. Citigroup Global Markets, Inc. acted as financial advisor to The Jones Group and Peter J. Solomon Company acted as financial advisor to the Company’s Board of Directors. "We are excited about the opportunity to invest in an attractive niche of the consumer products industry and look forward to building NBG alongside its best-in-class management team. The transaction is valued at approximately $2.2 billion. The firm's investment portfolio currently includes Belk, Coldwater Creek, CommerceHub, EMP Merchandising, Hot Topic, MGF Sourcing, NBG Home, Nine West Holdings, Staples, Inc., Staples’ United States Retail Business, Staples’ Canadian Retail Business, Talbots, The Limited and Torrid. Sycamore Partners today announced that it has completed its acquisition of The Jones Group Inc. (“The Jones Group” or the “Company”). We look forward to continuing our support of NBG and its team as they execute on this growth strategy.". Its strong sales force and capable design team are well-regarded for their customer first attitude. Announces $140 Million in Additional Financing to Bolster Liquidity, Ascena retail group Completes Sale of Ann Taylor, LOFT, Lou & Grey and Lane Bryant to Sycamore Partners, CommerceHub Announces Strategic Investment from Insight Partners, Sycamore Partners Completes Acquisition of Pure Fishing, Sycamore Partners Closes Third Fund At $4.75 Billion, GTCR and Sycamore Partners Complete Acquisition of CommerceHub, John A. Lederer Joins Sycamore Partners as a Senior Advisor. Winston & Strawn LLP and the Law Offices of Gary M. Holihan, P.C. (212) 355-4449. FRAMINGHAM, Mass. AUSTIN, Texas and CHARLESTON, S.C., Jan. 8, 2019 /PRNewswire/ -- NBG Home ("NBG" or the "Company"), the largest provider of affordable home décor products, today announced that it has acquired Quoizel, a leading designer and marketer of decorative lighting. Chairman at Staples. The company is growing organically and through acquisitions as it further strengthens its deep connections to the world's leading omni-channel retailers through market-leading design, merchandising and sourcing capabilities. Staples’ Board of Directors has unanimously approved the merger agreement and recommends that all Staples stockholders vote in favor of the transaction. Under the terms of the merger agreement, all Staples’ stockholders will receive $10.25 per share in cash for each share of common stock they own, which represents a premium of approximately 20 percent to the 10-day volume weighted average stock price for Staples shares for the period ended April 3, 2017, the last trading day prior to widespread media speculation about a potential transaction. Sycamore Partners today announced that it has acquired the Coldwater Creek brand and other intellectual property. We are also pleased to have been able to work constructively on this carve-out for Newell Brands to further its strategic transformation.". work better.”, Mr. Lederer said, “I am honored to join Sycamore Partners as a Senior Advisor and Executive  “We are pleased to have completed this acquisition and are ready to deliver on the promise of executing on the significant potential inherent in Talbots, which remains a premier, storied brand,” said Stefan Kaluzny, a Managing Director of Sycamore Partners. It continues to assemble an outstanding The firm was formed in 2011. ALBANY, N.Y., Dec. 2, 2020 /PRNewswire/ -- CommerceHub, a leading provider of ecommerce solutions for enterprise retailers and brands, today announced a strategic investment by global venture capital and private equity firm Insight Partners. The firm specializes in consumer, distribution and retail-related investments and partners with management teams to improve the operating profitability and strategic value of their business. This new financing along with the $50 million term loan announced in August largely completes the capital structure strategy we discussed on the second-quarter earnings call, in which we outlined our goal to refinance approximately one-half of the debt maturity coming due in August 2013," said Dorvin Lively, interim chief executive officer of RadioShack. In addition, CommerceHub’s Series B common stock will no longer be quoted on the OTC Markets. Staples’ Board believes that this process has led to a transaction which is in the best interests of our stockholders, as well as Staples and its employees.”. He holds a BA degree from Hunter College and an “We look forward to partnering with Sycamore Partners to identify areas for further expansion and development of the Stuart Weitzman brand.”. The Nine West Group and the Jeanswear company will continue to issue financial reports on a consolidated basis as Nine West Holdings (per their financial reporting requirements under their previously disclosed indentures). “With the support of its dedicated associates, Staples is well-positioned to leverage its iconic brand and leading competitive position to drive even greater value for its business-to-business and retail customers in the U.S. and Canada.”, “We are excited about the tremendous opportunities ahead for the Company and our talented associates,” said Shira Goodman, Chief Executive Officer and President, Staples, Inc. “We look forward to benefitting from Sycamore Partners’ retail and wholesale experience as we work together to deliver exceptional products, services and expertise that enable businesses to work better.”. As previously announced, under the terms of the transaction, Tim Belk is continuing to serve as CEO of Belk, and the Company continues to be headquartered in Charlotte, North Carolina. About Staples, Inc. MBA from Columbia University. Walgreens. The Company focuses on investments in consumer and retail companies. The new financing includes a $90 million FILO Term Loan with a maturity date of May 24, 2024, and a $50 million Delayed Draw Term Loan, to be repaid upon receipt of a CARES Act tax refund expected to be received in the second quarter of 2021. The Company has developed a loyal base of customers over its 127-year history, and we believe Belk is positioned for continued growth and success. Statements in this press release regarding the proposed transaction between Sycamore Partners and the Company, the expected timetable for completing the transaction, future financial and operating results, future opportunities for the combined company and any other statements about Sycamore Partners and the Company managements’ future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. BofA Merrill Lynch and Deutsche Bank Securities Inc. are acting as financial advisors and Kirkland & Ellis LLP is acting as legal advisor to Sycamore Partners. There are a number of important, additional factors that could cause actual results or events to differ materially from those indicated by such forward looking statements, including the factors described in the Company’s Annual Report on Form 10-K for the year ended January 28, 2017 and its most recent quarterly report filed with the SEC. of best-in-class consumer and retail brands.”, Mr. Frankfort said, “I am excited to join Sycamore Partners as an Executive in Residence. The retailer has received financing commitments for $225 million in new capital from Sycamore Partners, leading global investment firms KKR and Blackstone Credit, and certain existing first lien term lenders (the "Ad Hoc First Lien Lender Group"). “We are delighted to have the opportunity to work with Stuart, Wayne and the rest of the Stuart Weitzman team as they position the brand for continued growth and development.” Stuart Weitzman previously operated as a division of The Jones Group, which was acquired by Sycamore Partners on April 8, 2014. Sycamore Partners today announced that, in conjunction with its recent acquisition of The Jones Group Inc., Stuart Weitzman will operate as an independent company in the investment firm’s growing portfolio of leading retail and consumer businesses. Terms of the transaction were not disclosed. largest retail food distributor, where he served in a variety of senior leadership positions  The sale included Azamara’s three-ship fleet and associated intellectual property. Scott Slater, CEO of NBG, said, "We are pleased to welcome Quoizel to the NBG family. Each will operate as an independent company led by its own management team. The Talbots, Inc. ("Talbots") today announced that Michael Weiss, the longtime CEO of Express and a highly respected figure in the retail industry for many years, has joined the Talbots Board of Directors, effective September 1, 2016. Together with Pure Fishing's employees, we will best leverage our portfolio of leading brands to the benefit of our customers. Sycamore Partners (“Sycamore”), a private equity firm based in New York, and Limited Brands, Inc. (NYSE: LTD) today announced that Sycamore has acquired a controlling 51% interest in Mast Global Fashions, the third-party apparel sourcing division of Limited Brands. RadioShack is one of North America's largest companies in its segment, operating both stores and kiosks located throughout big-box retailers in the United States and Mexico. 12, 2017. They remain fully committed to the growth of the brand and the business. September 20, 2017 – Sycamore Partners today announced that John A. Lederer, former President and  2015, Mr. Lederer served as the Chief Executive Officer of US Foods, one of the largest food  The Hot Topic transaction is the fourth investment by Sycamore Partners, which has more than $1 billion in capital under management. Michael Archbold, previously President and Chief Operating Officer of the Vitamin Shoppe, has been named Chief Executive Officer and Chief Financial Officer. roster of leading retail and apparel brands with tremendous potential for growth and profitability.”. Contact for Sycamore Partners: Sycamore Partners supported Kurt Geiger’s management team in its acquisition of the business, which previously was a division of The Jones Group Inc. Kurt Geiger has been a leader and innovator in European footwear since 1963, when it opened its first boutique on Bond Street in London. Michael Archbold Appointed CEO and CFO, Lizanne Kindler Named President and Michele Mandell Named Chief Operating Officer. & NEW YORK--(BUSINESS WIRE)-- Staples, Inc. (NASDAQ: SPLS or the “Company”) and Sycamore Partners, a leading private equity firm, today announced that they have entered into a merger agreement in which investment funds managed by Sycamore Partners will acquire the Company in a transaction that values Staples at an equity value of approximately $6.9 billion. NEW YORK, Jan. 7, 2019 /PRNewswire/ -- Sycamore Partners today announced that it has completed its acquisition of Pure Fishing from Newell Brands. NEW YORK, Jan. 25, 2021 /PRNewswire/ -- Sycamore Partners, a leading private equity firm, today announced plans for Azamara, the upmarket, boutique … I look forward to working closely with the Board, the management team and Talbots' talented associates as the company continues to execute its business strategy and serve its loyal customers for years to come. NEW YORK, Feb. 24, 2017 /PRNewswire/ -- Sycamore Partners today announced that it has acquired The Limited's brand and other related intellectual property assets. “This is exactly the kind of business that Sycamore is looking to invest in – experienced leadership, a proven track record of success, and strong growth potential,” adds Peter Morrow, also a managing director at Sycamore. Talbots’ headquarters will remain in Hingham, Massachusetts, and the Company expects to maintain all of its other offices. “Jim Schwartz and the very talented team at Mast Global Fashions have been valued business partners to some of the leading apparel retailers for more than 40 years, and we look forward to continuing to build on that history of success.”. “We are grateful for the positive and enthusiastic response we have received from our existing and new limited partners. NBG offers an extensive array of home décor products, including ready-made and custom framing, lighting, accent furniture, wall décor, and soft goods under a portfolio of leading brands. Stefan Kaluzny, Managing Director of Sycamore Partners, said, "We believe the successful closing of Fund III following strong investor demand reflects the power of our investment strategy. “Lew Frankfort is a legend in the retail industry, with decades of experience building brand awareness, Michael Freitag or Arielle Rothstein About Sycamore Partners Sycamore Partners is a private equity firm based in New York. The company is traded on the NYSE under the ticker RSH. Guggenheim Securities acted as financial advisor to Hot Topic and Cooley LLP acted as its legal counsel. Staples brings technology and people together in innovative ways to consistently deliver products, services and expertise that elevate and delight customers. The Firm now has approximately $10 billion in assets under management. Sycamore Partners is well known for partnering with management teams to create value, and I look forward to benefiting from their support and expertise. Tickers … Southern. In We believe our significant experience with carve-out transactions will be beneficial in supporting the Dollar Express team to serve our loyal customers and create value. FRAMINGHAM, Mass. We look forward to benefitting from John’s experience and insights as we continue to grow Sycamore Partners’ portfolio of retail and consumer companies.”. Sycamore Partners-backed retailer is months overdue in paying them, said the people, who asked not to be named discussing private negotiations. Staples brings technology and people together in innovative ways to consistently deliver products,  "We are pleased to have completed this acquisition, which adds to our growing portfolio of leading retailers and consumer brands," said Peter Morrow, a Managing Director at Sycamore Partners. She previously held a variety of merchandising roles at Ann Taylor. Most recently she served as the Executive Vice President of Product Development at Kohl’s Department Stores. Mr. Kent said, "I am honored to be a part of the Pure Fishing team, particularly at this exciting juncture. Prior to joining Golden Gate, he co-founded Delray Farms, Inc. and also served as its Chief Executive Officer. Sycamore Partners is a private equity firm based in New York. Sycamore Partners today announced that it has closed its second fund, Sycamore Partners II, L.P., with limited partner commitments of $2.5 billion. Winston & Strawn LLP, Simpson Thacher & Bartlett LLP and the Law Offices of Gary M. Holihan, P.C. BofA Merrill Lynch and Guggenheim Securities acted as financial advisors to Sycamore Partners. The transaction is subject to customary closing conditions, including the receipt of regulatory and stockholder approval, and is expected to close no later than December, 2017. Sycamore plans to reintroduce the brand to the marketplace at a later date and will communicate with The Limited's loyal customers about how to obtain the merchandise they know and love. Mr. Lederer serves on the Board of Directors of US Foods,  The firm's investment portfolio currently includes Belk, Coldwater Creek, EMP Merchandising, Hot Topic, MGF Sourcing, NBG Home, Staples, Inc., Staples United States Retail, Staples Canada, Talbots, The Limited and Torrid. Sycamore Partners previously announced that Stuart Weitzman and Kurt Geiger would each become independent companies. Michael Freitag or Arielle Rothstein Mr. Weitzman said, “We are excited to work with Sycamore Partners and are confident that this transaction will help fuel the continued momentum of the Stuart Weitzman brand as we enter our next phase of growth. The Company’s actual results may differ materially from such forward-looking statements as a result of numerous factors, some of which the Company may not be able to predict and may not be within the Company’s control. "The retail industry is very much about brands and Talbots is one of America's most iconic retail fashion brands with a long history of delivering on its stated mission to provide women with modern classic apparel. Recent news which mentions Sycamore Partners, Sycamore Partners Leads Bid To Acquire Bankrupt JCPenney At $1.75B, Proposes Merger With Belks: Report, L Brands CEO Steps Down, Sycamore Deal Terminated, L Brands Closer To Victoria's Secret Sale, CNBC Says; Link Calls Brand 'Mismanaged', Univision sells Gawker assets, offloading English-speaking media, Penn names school after famous shoe designer, GameStop could be moving closer to a sale and working with adviser, report says, GameStop is for sale and Sycamore is a likely buyer, CommerceHub no longer listed on the Nasdaq as company is sold, CommerceHub shareholders will vote on $1.1 billion acquisition next month, NYC, Chicago firms by tech company for $1.1 billion, Albany tech company acquired for $1.1 billion, Staples hires Coke executive to replace Goodman as CEO, Staples CEO Shira Goodman stepping down immediately: report, Belk pledges $15M for new initiative to support local communities (VIDEO), Belk nabs exclusive distribution rights for women’s brand, Boston Store parent Bon-Ton will no longer trade on Nasdaq exchange, It's official: Staples is no longer a public company, Office Depot Alleged To Re-Enter Talks For Staples Stores, ?Staples looks to spin off 1,500 retail stores to longtime rival Office Depot, Staples Seals A Deal, But Risk Weighs On Offer Price, Staples Sold Itself At One Of The Lowest Sales Multiples On Record, Staples will go private in $7B deal with Sycamore Partners. Sycamore Partners is a private equity firm based in New York. The firm specializes in consumer, distribution and retail-related investments and partners with management teams to … For more information, please visit www.gtcr.com. Sycamore Partners today announced that it has completed its acquisition of Staples, Inc. (the “Company”). Today the company operates in more than 180 multi-branded luxury and premium shoe concessions in leading British and international department stores, including Harrods, Selfridges, House of Fraser, John Lewis, Debenhams, David Jones and Myer. management teams of its portfolio companies, enabling them to tap into his incomparable retail NBG was thoughtful in helping our ownership group achieve their objectives, and with NBG's support and scale, we can enhance our capabilities and expand distribution points across North America and Europe, providing an attractive future for our employees, customers and vendors. As a result of the completion of the merger, the common stock of Staples will no longer be listed for trading on Nasdaq. “Sycamore shares our values and our approach to business, and we know that they are the right partner to work with us to provide the resources necessary to expand this third-party apparel sourcing business,” said Leslie H. Wexner, chairman and chief executive officer of Limited Brands. Mr. Lederer holds a Bachelor of Arts degree in  The firm's strategy  Latest News about Sycamore Partners. “The company has great potential for growth, and we look forward to working with Neil and the Kurt Geiger team to help position the business for long-term success.”. of not-for-profit organizations. “The closing of this transaction represents a new and exciting chapter for CommerceHub,” said Frank Poore, CommerceHub’s Founder, President and CEO, who will continue in these roles. He is also affiliated with a number addition, Mr. Frankfort serves on the Board of Directors of WeWork. The firm specializes in consumer, distribution and retail-related investments and … In this capacity, he  "We are pleased to have closed on this new term loan with Wells Fargo Capital Finance and Pathlight Capital. knowledge, managerial expertise and network of industry relationships. “Stuart Weitzman has a world-renowned business with excellent brand recognition, a loyal customer base and promising growth initiatives underway,” said Stefan Kaluzny, a Managing Director of Sycamore Partners. Stefan Kaluzny, Managing Director of Sycamore Partners, said, “We are excited to have completed this acquisition and to begin our partnership with Belk. The Jones Group transaction is the fifth investment by Sycamore Partners, which currently has more than $1 billion in capital under management. As previously announced, Sycamore Partners completed its acquisition of Staples, Inc. on September In addition, investors and security holders will be able to obtain free copies of the Proxy Statement from the Company by contacting Staples Investor Relations department at [email protected]. View source version on businesswire.com: http://www.businesswire.com/news/home/20170628006475/en/, Michael Freitag or Arielle Rothstein, 212-355-4449. Previous transactions include the acquisition of a controlling interest in MGF Sourcing from L Brands; the formation of Pathlight Capital, LLC; the acquisition of The Talbots, Inc.; and the acquisition of Hot Topic, Inc. Sycamore Partners today announced that Kurt Geiger, a leading European luxury branded shoe retailer, has completed a management-led buyout and is now operating as an independent company. Sycamore Partners LLC made a preliminary bid to buy assets of bankrupt Ascena Retail Group Inc. including the Ann Taylor brand, according to people familiar with the matter. to create value and deliver exceptional products, services and expertise that enable businesses to  ", Peter Morrow, Managing Director at Sycamore Partners, said, "This transaction, which follows NBG's purchase of Cheyenne Products a year ago, reflects Sycamore's confidence in NBG. “With an iconic brand, a winning strategy, and dedicated and passionate associates who are deeply focused on the customer, Staples is truly an outstanding enterprise,” said Stefan Kaluzny, Managing Director of Sycamore Partners. With the closing of its second fund, Sycamore Partners now has in excess of $3.5 billion in assets under management. More information about Staples is available at   “We expect to draw upon the company’s proven experience in sourcing and significant global reach to solidify and grow its leadership position in the apparel industry.”. About Sycamore Partners Bank of America Merrill Lynch acted as financial advisor to Sycamore Partners and Winston & Strawn LLP and the Law Offices of Gary M. Holihan, P.C. "We look forward to operating these 330 stores as Dollar Express, a brand new, nationwide discount retailer that is well-positioned as an innovator in the market. Robert Sulentic, Chairman of the Board, said, “Today’s announcement is the result of a comprehensive process in which our Board, with the assistance of a transaction committee comprised of independent directors, and outside financial advisors, explored and considered various alternatives to enhance value for our stockholders. Style.”, Tim Belk, chief executive officer of Belk, Inc., said, “We are very pleased to complete this transaction with Sycamore Partners, which delivers meaningful value to all our stakeholders. Sycamore Partners today announced that it has reorganized the remaining businesses of The Jones Group into four independent operating companies: the Nine West Group, a Jeanswear company (which will be named later), Jones New York, and the Kasper Group. Kirkland & Ellis LLP served as legal counsel. Sycamore Partners LLC operates as a private equity firm. service distributors in the United States, where he led a comprehensive rebranding of the company. They are all veteran retailers and together have extensive financial, merchandising, product development, marketing and operational skills that will be invaluable as we move to better position Talbots for long-term, positive growth. The private-equity firm Sycamore Partners plans to seize control of Victoria's Secret from its current owner, L Brands, in a deal that will take the lingerie brand private.. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” estimates and similar expressions) should also be considered to be forward looking statements, although not all forward-looking statements contain these identifying words. Sycamore specializes in consumer, distribution and retail-related investments and partners with management teams to improve the operating profitability and strategic value of their businesses. CommerceHub is a distributed commerce network connecting supply, demand and delivery that helps retailers and brands increase sales by expanding product assortments, promoting products on the channels that perform, and enabling rapid, on-time customer delivery. He deservedly has earned an outstanding reputation in the retail industry and I have no doubt that by sharing his wisdom, expertise and warmth with his new colleagues and fellow board members, Michael will make a meaningful contribution to Talbots' ongoing growth and success.". The Proxy Statement will contain important information about Sycamore Partners, the Company, the merger and related matters. Lizanne, Michele and I look forward to working closely with the other members of the Talbots’ leadership team and the Company’s more than 8,000 committed and hard-working associates to reestablish the brand as the category leader.”, He continued, “We could not have a better partner than the team at Sycamore. The firm has more than $3.5 billion in capital under management. The transaction is valued at approximately $391 million, including net debt. 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