M&A Deal Summary

Sycamore Partners Acquires Belk

On December 10, 2015, private equity firm Sycamore Partners acquired retailer Belk for 3.0B USD

Acquisition Highlights
  • This is Sycamore Partners’ 5th transaction in the Retail sector.
  • This is Sycamore Partners’ 2nd largest (disclosed) transaction.
  • This is Sycamore Partners’ 9th transaction in the United States.
  • This is Sycamore Partners’ 1st transaction in North Carolina.

M&A Deal Summary
Date 2015-12-10
Target Belk
Sector Retail
Buyer(s) Sycamore Partners
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 3.0B USD
Advisor(s) Goldman Sachs (Financial)
King & Spalding (Legal)

Target

Belk

Charlotte, North Carolina, United States
Belk is a regional department store company with 296 locations across 16 Southern states and a growing digital presence. Belk offers a wide assortment of national brands and private label fashion apparel, shoes and accessories for the entire family along with top name cosmetics, a wedding registry and a large selection of quality merchandise for the home. Belk was founded in 1888 and is based in Charlotte, North Carolina.

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Buyer(S) 1

Buyer

Sycamore Partners

New York, New York, United States
Category Private Equity Firm
Founded 2011
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Sycamore Partners is an opportunistic and operationally focused private equity firm that targets businesses and divisions in the consumer and retail sectors. The Firm looks to partner with management teams to improve the operating profitability and strategic value of their businesses. Sycamore was formed in 2011 and is based in New York City.

DEAL STATS #
Overall 11 of 26
Sector (Retail) 5 of 9
Type (Buyout (LBO, MBO, MBI)) 4 of 5
State (North Carolina) 1 of 1
Country (United States) 9 of 22
Year (2015) 3 of 3
Size (of disclosed) 2 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-23 Pathlight Capital

Hingham, Massachusetts, United States

Pathlight Capital is a commercial finance company dedicated to providing creative financing solutions to fund growth, acquisitions, debt refinancings, or restructurings. Pathlight Capital was formed in 2012 and is based in Hingham, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-14 Kurt Geiger

London, United Kingdom

Kurt Geiger is a retailer of designer footwear and accessories. Kurt Geiger has a portfolio of attractive brands (including Kurt Geiger London, KG, Miss KG and Carvela) and operates over 80 stores globally and 240 concessions within some of the world’s most prestigious department stores including Harrods, Selfridges, House of Fraser and Debenhams and partners with leading international brands. Kurt Geiger was founded in 1963 and is based in London, United Kingdom.

Sell -
Mergr

Product

Company

Legal