M&A Deal Summary

Leonard Green & Partners Acquires Lucky Brand

On December 10, 2013, private equity firm Leonard Green & Partners acquired apparel/textiles company Lucky Brand from Kate Spade & Co. for 225M USD

Acquisition Highlights
  • This is Leonard Green & Partners’ 2nd transaction in the Apparel/Textiles sector.
  • This is Leonard Green & Partners’ 27th largest (disclosed) transaction.
  • This is Leonard Green & Partners’ 47th transaction in the United States.
  • This is Leonard Green & Partners’ 9th transaction in California.
Investment Fate
  • Lucky Brand went bankrupt in 2020.
  • Lucky Brand was sold to a strategic buyer in 2020 for 140M USD.

M&A Deal Summary

Date 2013-12-10
Target Lucky Brand
Sector Apparel/Textiles
Buyer(s) Leonard Green & Partners
Sellers(s) Kate Spade & Co.
Deal Type Divestiture
Deal Value 225M USD

Target

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.

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Buyer(S) 1

Buyer

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 75.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.


DEAL STATS #
Overall 49 of 107
Sector: Apparel/Textiles M&A 2 of 2
Type: Divestiture M&A Deals 3 of 5
State: California M&A 9 of 11
Country: United States M&A 47 of 99
Year: 2013 M&A 5 of 5
Size (of disclosed) 27 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-20 Caliber

Lewisville, Texas, United States

Caliber is a multi-site operator of auto body collision repair centers in the United States with a nationwide footprint that includes over 1,000 centers. Caliber provides repair solutions that enable its insurance company partners to improve customer satisfaction and drive policyholder retention while also reducing repair costs in the claims process. Caliber was founded in 1997 and is based in Lewisville, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-01 J. Crew

Lynchburg, Virginia, United States

J.Crew is a nationally recognized multi‐channel retailer of women’s, men’s and children’s apparel, shoes and accessories. J. Crew was formed in 1983 and is based in Lynchburg, Virginia.

Sell -

Seller(S) 1

SELLER

Kate Spade & Co.

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 2 of 2
Sector: Apparel/Textiles M&A 2 of 2
Type: Divestiture M&A Deals 2 of 2
State: California M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2013 M&A 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-12 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.

Sell $268M