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Charlesbank, Webster buy PPR’s Redcats US plus-size clothes division

6 Dec 2012

Charlesbank Capital Partners and Webster Capital have bought the US plus-size fashion business of PPR’s Redcats mail order unit for $525m.

OneStopPlus Group include brands such as, Woman Within, Roaman’s, Jessica London, and Bargain Catalog Outlet.

French retail giant PPR said the deal marked a further step forward in its transformation into a global leader in apparel and accessories within the luxury sport and lifestyle sectors.

Redcats sold its US sports and leisure business Northern Tool + Equipment for $215m earlier this month and is also planning to sell its Fnac music and book unit, according to Reuters.

PPR hired Rothschild to sell Redcats last year but was unable to find a buyer, causing it to break up the business and sell off assets individually.

Peter J Solomon Co acted as PPR’s financial advisor and Wachtell, Lipton, Rosen & Katz acted as legal advisor.

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