M&A Deal Summary

J. C. Penney Company Acquires Liz Claiborne - Family of Brands

On October 12, 2011, J. C. Penney Company acquired apparel/textiles company Liz Claiborne - Family of Brands from Kate Spade for 268M USD

Acquisition Highlights
  • This is J. C. Penney Company’s 1st transaction in the Apparel/Textiles sector.
  • This is J. C. Penney Company’s 2nd largest (disclosed) transaction.
  • This is J. C. Penney Company’s 3rd transaction in the United States.
  • This is J. C. Penney Company’s 1st transaction in New York.

M&A Deal Summary

Date 2011-10-12
Target Liz Claiborne - Family of Brands
Sector Apparel/Textiles
Buyer(s) J. C. Penney Company
Sellers(s) Kate Spade
Deal Type Divestiture
Deal Value 268M USD

Target

Liz Claiborne - Family of Brands

New York, New York, United States
Liz Claiborne's family of brands include the worldwide rights and intellectual property for the entire Liz Claiborne brand portfolio, including Liz Claiborne, Claiborne, Liz, Liz & Co., Concepts by Claiborne, LC, Elizabeth, LizGolf, LizSport, Liz Claiborne New York (LCNY) and Lizwear brands.

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Buyer(S) 1

Buyer

J. C. Penney Company

Plano, Texas, United States

Category Company
Founded 1902
Sector Retail
Employees95,000
Revenue 11.2B USD (2020)
DESCRIPTION
JC Penney's corporate headquarters in Plano, Texas.
JC Penney's corporate headquarters in Plano, Texas.

J. C. Penney Company is a US-based retailer. The Company primarily sells apparel, footwear, home goods, and beauty products. J. C. Penney Company was founded in 1902 and is based in Plano, Texas.


DEAL STATS #
Overall 3 of 3
Sector (Apparel/Textiles) 1 of 1
Type (Divestiture) 1 of 1
State (New York) 1 of 1
Country (United States) 3 of 3
Year (2011) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-06 Eckerd

Largo, Florida, United States

Eckerd is a chain of drug stores based in Largo, Florida. The Company was originally established 1898.

Sell $4.5B

Seller(S) 1

SELLER

Kate Spade

New York, New York, United States

Category Company
Founded 1976
Sector Apparel/Textiles
Employees3,600
Revenue 1.2B USD (2016)
DESCRIPTION

Kate Spade & Company operates principally under two global, multichannel lifestyle brands: kate spade new york and Jack Spade New York. The Company’s four category pillars – women’s, men’s, children’s and home – span demographics, genders and geographies. Known for crisp color, graphic prints and playful sophistication, kate spade new york aims to inspire a more interesting life. The kate spade new york collection includes the Madison Avenue, Broome Street and on purpose labels. Jack Spade New York offers a timeless and versatile assortment of bags, sportswear and tailored clothing founded on the aesthetic of simple, purposeful design. The Company also owns Adelington Design Group, a private brand jewelry design and development group. Kate Spade & Co. was established in 1976 and is based in New York City.


DEAL STATS #
Overall 1 of 2
Sector (Apparel/Textiles) 1 of 2
Type (Divestiture) 1 of 2
State (New York) 1 of 1
Country (United States) 1 of 2
Year (2011) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-18 Skylark Sport Marketing

Vista, California, United States

Skylark Sport Marketing Corp. is a manufacturer of and outdoor and accessories for men and women.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-10 Lucky Brand

Los Angeles, California, United States

Lucky Brand is a fashion designer and manufacturer of premium denim in North America. Vintage-inspired jeans, broken-in graphic tees, classic leather motorcycle jackets, and bohemian styles all capture the laidback vibes and authenticity of Lucky. Lucky currently has over 230 locations in North America and is sold in select department stores and independent boutique retail locations. The company also interacts with customers and offers its products through its own direct-to-consumer website. Lucky Brand was formed in 1990 and is based in Los Angeles, California.

Sell $225M