The buyout house currently owns about 22 per cent of Zale’s stock according to a statement from the business.
That deal values the company’s shares at $21 each, a 41 per cent premium over the company’s closing price on February 18.
The transaction values the business at about $1.4bn, a 7.4-times adjusted EBITDA multiple in the 12 months to October 2013.
Golden Gate rescued Zale from a potential bankruptcy in 2010 by providing a $150m secured loan.
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