Sycamore unit to acquire Ann Taylor, Loft, others for US$540m
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.
