M&A Deal Summary

Sycamore Partners Acquires Ascena Retail Group - Ann Taylor LOFT Lou & Grey and Lane Bryant

On December 23, 2020, private equity firm Sycamore Partners acquired apparel/textiles company Ascena Retail Group - Ann Taylor LOFT Lou & Grey and Lane Bryant from Ascena Retail Group

Acquisition Highlights
  • This is Sycamore Partners’ 6th transaction in the Apparel/Textiles sector.
  • This is Sycamore Partners’ 16th transaction in the United States.
  • This is Sycamore Partners’ 1st transaction in New Jersey.

M&A Deal Summary
Date 2020-12-23
Target Ascena Retail Group - Ann Taylor LOFT Lou & Grey and Lane Bryant
Sector Apparel/Textiles
Buyer(s) Sycamore Partners
Sellers(s) Ascena Retail Group
Deal Type Divestiture

Target

Ascena Retail Group - Ann Taylor LOFT Lou & Grey and Lane Bryant

Mahwah, New Jersey, United States
Ann Taylor has evolved with the needs of real women who live full, happy, and accomplished lives. LOFT creates modern, feminine, and versatile clothing for a wide range of women with one common style goal: to look and feel confident, wherever the day takes them. Lou & Grey is about delivering style and comfort, inspired for millennial women. Lane Bryant had created the first known commercially sold maternity dress.

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Buyer(S) 1

Buyer

Sycamore Partners

New York, New York, United States

website

Category Private Equity Firm
Founded 2011
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Sycamore Partners is an opportunistic and operationally focused private equity firm that targets businesses and divisions in the consumer and retail sectors. The Firm looks to partner with management teams to improve the operating profitability and strategic value of their businesses. Sycamore was formed in 2011 and is based in New York City.

DEAL STATS #
Overall 18 of 24
Sector (Apparel/Textiles) 6 of 7
Type (Divestiture) 5 of 8
State (New Jersey) 1 of 1
Country (United States) 16 of 20
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-31 Coldwater Creek

Cincinnati, Ohio, United States

Coldwater Creek is a women's apparel and accessories brand that has developed a loyal customer base over its history.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-19 Azamara

Miami, Florida, United States

Azamara is a boutique luxury cruise line serving guests interested in experiencing and traveling Europe, the South Pacific, the Mediterranean and Caribbean. Azamara was founded in 2007 and is headquartered in Miami, Florida.

Buy $201M

Seller(S) 1

SELLER

Ascena Retail Group

Mahwah, New Jersey, United States

website

Category Company
Founded 1962
Sector Retail
Employees14,000
Revenue 5.5B USD (2019)
DESCRIPTION

Ascena Retail Group is a specialty retailer of apparel for women and tween girls, operating, through its wholly-owned subsidiaries Maurices, Justice, Lane Bryant, and Catherines brands. The Company was established in 1962 and is based in Mahwah, New Jersey.

DEAL STATS #
Overall 2 of 2
Sector (Apparel/Textiles) 1 of 1
Type (Divestiture) 2 of 2
State (New Jersey) 1 of 1
Country (United States) 2 of 2
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-25 Maurices

Duluth, Minnesota, United States

Maurices is a retail concept that offers a broad assortment of fashionable, high quality apparel and accessories to 17-34 year old women and men who seek stylish clothing for both casual and dressy occasions. Maurices was founded in 1931 and is based in Duluth, Minnesota.

Sell -
Mergr

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