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Sycamore Partners acquires 8% stake in teen retailer Aeropostale

17 Sep 2013

aeroA few months after buying teen retailer Hot Topic, private equity firm Sycamore Partners acquired a minority stake in its sector peer Aeropostale.

The firm has bought an eight per cent stake in Aeropostale for almost $54m and said in a regulatory filing that it plans to hold talks with the board and fellow shareholders about the company’s strategy and plans.

Sycamore also said that Aeropostale is “an attractive investment.” Shares in NYSE-listed Aeropostale rallied nearly 20 per cent to $10.20 per share  on the news today.

In June this year Sycamore completed the $600m buyout of teen retailer Hot Topic, which then delisted from the Nasdaq exchange.

The New York-headquartered firm currently has more than $1bn under management.

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