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Sycamore eyes exit of shoe retailer acquired through February Jones Group buyout

18 Aug 2014

stuart weitzmanSycamore-partners owned women’s shoe retailer Stuart Weitzman is reportedly readying a sale by hiring Goldman Sachs and Citigroup to run the process.

The company, which Sycamore took control of when it bought parent business Jones Group for $2.2bn in February, could sell for about $800m according to Reuters sources.

Sycamore paid about $1.2bn for the business and assumed Jones Group’s $1bn debt through the purchase.

Earlier this month it emerged Sycamore Partners was ready to continue a streak of dealmaking by bidding up to $2bn for Sears Canada.

In June Sycamore held a $2.5bn final close for its second fund amid picking up the brand of bankrupt clothing retailer Coldwater Creek.

Earlier this year Sycamore bought a five per cent stake in clothing retailer Aeropostale, increasing its total ownership to 12.3 per cent.

Sycamore has also been in talks to buy the discount chain store arm of Men’s Wearhouse, and last summer completed the $600m buyout of teen retailer Hot Topic.

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