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Sycamore Partners nears $1.2bn deal for clothing, footwear maker Jones Group

13 Dec 2013

fashion_shoe_170sqUS private equity firm Sycamore Partners is reportedly set to pay about $1.2bn for footwear and clothing maker Jones Group after buyout major KKR stepped away from talks.

Both firms were said to be interested in buying the business in the summer, but KKR reportedly stepped away from negotiations in September.

Golden Gate Capital and Sun Capital Partners were previously said to be considering offers for the business.

Sycamore’s deal, which is expected to be agreed by next week, would value Jones at $15 per share according to the Wall Street Journal, which cited a person familiar with the matter.

KKR was previously said to be interested in Jones’s fast growing footwear brands including Kurt Geiger and Brian Atwood, while Sycamore was looking to buy aging women’s apparel brands such as Anne Klein and Gloria Vanderbilt.

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