Add-on Acquisition • Retail

Ascena Retail Group Acquires Ann

On May 18, 2015, Ascena Retail Group acquired retailer Ann for 2.2B USD

Acquisition Context
  • This is Ascena Retail Group’s 4th transaction in the Retail sector.
  • This is Ascena Retail Group’s largest (disclosed) transaction.
  • This is Ascena Retail Group’s 4th transaction in the United States.
  • This is Ascena Retail Group’s 1st transaction in New York.

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M&A Deal Summary

Date May 18, 2015
Target Ann
Sector Retail
Buyer(s) Ascena Retail Group
Deal Type Add-on Acquisition
Deal Value 2.2B USD
Advisor(s) J.P. Morgan Securities (Financial)
Wachtell, Lipton, Rosen & Katz (Legal)

Target Company

Ann

New York, New York, United States
Ann, Inc. is a women’s specialty retail fashion brands in North America. The Company operates 1,025 Ann Taylor, Ann Taylor Factory, LOFT and LOFT Outlet stores in 47 states, the District of Columbia, Puerto Rico and Canada.
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Buyer Overview 1

Buyer

Ascena Retail Group

Mahwah, New Jersey, United States

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 Context for Buyer #
Overall 4 of 4
Sector: Retail 4 of 4
Type: Add-on Acquisition 3 of 3
State: New York 1 of 1
Country: United States 4 of 4
Year: 2015 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-02 Charming Shoppes

Bensalem, Pennsylvania, United States

Charming Shoppes, Inc. is an apparel retailer specializing in women's plus-size apparel. Charming Shoppes operates retail stores in 48 states under the names LANE BRYANT®, CACIQUE®, LANE BRYANT OUTLET®, FASHION BUG®, FASHION BUG PLUS® and CATHERINES PLUS SIZES®. The company also operates the Figi's family of brands, including the holiday food and gifts catalog Figi's® Gifts in Good Taste®, the home and gifts catalog Figi's® Gallery and its wholesale unit Figi's Business Services.

Buy $890M
FOLLOWING 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 -