Sycamore unit to acquire Ann Taylor, Loft, others for US$540m | FI SENSE

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Ascena Retail Group, which owns clothing brands such as Ann Taylor and Loft, said o it will be acquired by Premium Apparel LLC for $540 million on a cash-free and debt-free basis.

Premium Apparel, a unit of private equity firm Sycamore Partners, has committed to retain a substantial portion of the retail stores and associates affiliated with the brands, Ascena said in a statement.

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