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M&A Deal Summary

Sycamore Partners Acquires Chico s FAS

On September 28, 2023, private equity firm Sycamore Partners acquired apparel/textiles company Chico s FAS for 1.0B USD

Acquisition Highlights
  • This is Sycamore Partners’ 7th transaction in the Apparel/Textiles sector.
  • This is Sycamore Partners’ 6th largest (disclosed) transaction.
  • This is Sycamore Partners’ 21st transaction in the United States.
  • This is Sycamore Partners’ 2nd transaction in Florida.

M&A Deal Summary
Date 2023-09-28
Target Chico s FAS
Sector Apparel/Textiles
Buyer(s) Sycamore Partners
Deal Type Going Private
Deal Value 1.0B USD
Advisor(s) Solomon Partners (Financial)
Paul, Weiss, Rifkind, Wharton & Garrison (Legal)

Target

Chico s FAS

Fort Myers, Florida, United States
Entrance to Chico's headquarters in Fort Myers, Florida.
Entrance to Chico's headquarters in Fort Myers, Florida.
Chico's FAS is a retailer focused on women older than 35. The Company’s portfolio consists of four brands: Chico’s, White House | Black Market, and Soma Intimates. The Company's brands are all specialty retailers of private label women’s apparel, accessories, and related products, which are available to customers in stores, through websites and via telephone through a call center. Chico's FAS was founded in 1983 and is based in Fort Myers, Florida.

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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 25 of 29
Sector: Apparel/Textiles M&A 7 of 7
Type: Going Private M&A Deals 5 of 6
State: Florida M&A 2 of 2
Country: United States M&A 21 of 25
Year: 2023 M&A 2 of 2
Size (of disclosed) 6 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-08 NBG Home

Austin, Texas, United States

NBG Home is a provider of an extensive array of home décor products, including ready-made and custom framing, lighting, accent furniture, wall décor, and soft goods under a portfolio of leading brands. NBG serves a wide variety of retail partners, including mass merchants, specialty stores, discount stores, home centers, warehouse clubs, and internet retailers. NBG Home is based in Austin, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-03 Playa Bowls

Belmar, New Jersey, United States

Playa Bowls is a healthy fast-casual restaurant franchisor featuring açai bowls, smoothies and related offerings, with more than 150 franchised and corporate-owned locations. Playa Bowls was founded in 2014 and is based in Belmar, New Jersey.

Buy -
Mergr

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