M&A Deal Summary

Ascena Retail Group Acquires Charming Shoppes

On May 2, 2012, Ascena Retail Group acquired retailer Charming Shoppes for 890M USD

Acquisition Highlights
  • This is Ascena Retail Group’s 3rd transaction in the Retail sector.
  • This is Ascena Retail Group’s 2nd largest (disclosed) transaction.
  • This is Ascena Retail Group’s 3rd transaction in the United States.
  • This is Ascena Retail Group’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2012-05-02
Target Charming Shoppes
Sector Retail
Buyer(s) Ascena Retail Group
Deal Type Add-on Acquisition
Deal Value 890M USD
Advisor(s) Barclays Investment Bank (Financial)
Drinker Biddle & Reath LLP
Schulte Roth & Zabel (Legal)

Target

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.

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Buyer(S) 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 STATS #
Overall 3 of 4
Sector (Retail) 3 of 4
Type (Add-on Acquisition) 2 of 3
State (Pennsylvania) 1 of 1
Country (United States) 3 of 4
Year (2012) 1 of 1
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-06-25 Tween Brands

New Albany, Ohio, United States

Tween Brands, Inc. is a tween specialty retailer. Through brands Justice and Limited Too, Tween Brands provides fashion merchandise and accessories for tween (age 7-14) girls. Tween Brands was formed in 1987 and is based in New Albany, Ohio.

Buy $157M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-18 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.

Buy $2.2B
Mergr

Product

Company

Legal