Sun Capital exits Gerber Childrenswear after five years


gerberPrivate equity firm Sun Capital has sold children’s apparel marketer Gerber Childrenswear to Providence Apparel in its second exit deal of the week.

The company owns the Gerber and Onesies brands, which are primarily distributed through North American retail chains. It also markets infant and children’s apparel under licensed brands including Jockey for Kids, Lamaze and the NFL.

Gerber was acquired from Sun portfolio company Kellwood in 2008 to operate as a standalone entity.

Sun Capital co-CEO Marc Leder said, “We are extremely proud of our effort, working closely with management, to establish Gerber Childrenswear as a successful independent business, including building out the systems and infrastructure necessary for success.

“Under our ownership, the Company has greatly improved its sourcing and distribution network, broadened its apparel product range and portfolio of brand licenses, and expanded the company’s retail reach and customer base both in the U.S. and internationally.

“This progress has Gerber Childrenswear well-positioned for continued future growth and success.”

Earlier this week Sun exited its investment in seafood chain Captain D’s Seafood Restaurant to mid-market firm Centre Partners.

The firm has currently raised just over half of its $3bn for its latest fund, despite hoping to close the vehicle before the end of 2012.

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