M&A Deal Summary

The Gap Acquires Athleta

On September 22, 2008, The Gap acquired apparel/textiles company Athleta from Simon Equity Partners for 150M USD

Acquisition Highlights
  • This is The Gap’s 2nd transaction in the Apparel/Textiles sector.
  • This is The Gap’s largest (disclosed) transaction.
  • This is The Gap’s 2nd transaction in the United States.
  • This is The Gap’s 2nd transaction in California.

M&A Deal Summary
Date 2008-09-22
Target Athleta
Sector Apparel/Textiles
Buyer(s) The Gap
Sellers(s) Simon Equity Partners
Deal Type Add-on Acquisition
Deal Value 150M USD
Advisor(s) Solomon Partners (Financial)

Target

Athleta

Petaluma, California, United States
website
Athleta caters to the 25-55 age group and sells clothes for yoga, running, skiing, and surfing via its Website and catalog.

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Buyer(S) 1

Buyer

The Gap

San Francisco, California, United States

website

Category Company
Founded 1969
Sector Apparel/Textiles
Employees97,000
Revenue 16.7B USD (2022)
DESCRIPTION

The Gap is a specialty retailer offering clothing, accessories and personal care products for men, women, children and babies. The Gap was foundd in 1969 and is based in San Francisco, California.

DEAL STATS #
Overall 2 of 7
Sector (Apparel/Textiles) 2 of 3
Type (Add-on Acquisition) 2 of 6
State (California) 2 of 5
Country (United States) 2 of 7
Year (2008) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1986-09-01 Pottery Barn

San Francisco, California, United States

Pottery Barn, Inc. is a specialty retail provides home furnishes.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-03 Intermix

New York, New York, United States

Intermix is a multi-brand specialty retailer of contemporary women’s apparel. Intermix sets itself apart from the competition by merchandising a mix of established, luxury designer labels alongside a large number of fashion-forward, up-and-coming designer labels. The company’s merchandising mandate is to be cutting edge and at the forefront of the latest trends. Intermix was formed in 1993 and is based in New York, New York.

Buy $130M

Seller(S) 1

SELLER

Simon Equity Partners

Larkspur, California, United States

Investor Investor

website

Category Growth Capital Firm
Founded 2006
Size Small
Type Sector Focused
DESCRIPTION

Simon Equity Partners LLC is a private equity firm focused on making growth capital investments in the consumer sector. The Firm looks to invest in profitable, growth-oriented companies with high-margin/differentiated products. Simon seeks investments of $2 to $10 million in businesses generating $5 to $20 million in sales. Specific areas of interest includes apparel, food and beverages, health and wellness, home care, hospitality, beauty & personal care, specialty retail, sustainability, restaurants, and food services. Simon Equity Partners LLC is the investment arm of Simon Property Group, the publicly traded real estate firm. Simon Equity Partners LLC is based in San Francisco, California.

DEAL STATS #
Overall 3 of 10
Sector (Apparel/Textiles) 2 of 3
Type (Add-on Acquisition) 2 of 7
State (California) 2 of 7
Country (United States) 3 of 10
Year (2008) 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-29 Yes To

Pasadena, California, United States

Yes To is an operator of a natural personal care company that products were developed in the Dead Sea region of Israel. Yes To was founded in 2006 and is based in Pasadena, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-01 Forever Collectibles

Edison, New Jersey, United States

Forever Collectibles is a leading marketer and manufacturer of collectibles, novelty and promotional products servicing the sports and entertainment industries.

Sell -
Mergr

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