M&A Deal Summary

Sycamore Partners Acquires Hot Topic

On June 12, 2013, private equity firm Sycamore Partners acquired retailer Hot Topic for 600M USD

Acquisition Highlights
  • This is Sycamore Partners’ 2nd transaction in the Retail sector.
  • This is Sycamore Partners’ 6th largest (disclosed) transaction.
  • This is Sycamore Partners’ 3rd transaction in the United States.
  • This is Sycamore Partners’ 1st transaction in California.

M&A Deal Summary
Date 2013-06-12
Target Hot Topic
Sector Retail
Buyer(s) Sycamore Partners
Deal Type Going Private
Deal Value 600M USD
Advisor(s) Guggenheim Securities (Financial)
Cooley (Legal)

Target

Hot Topic

City of Industry, California, United States
Hot Topic is a mall and web based specialty retailer operating the Hot Topic concept. Hot Topic offers music/pop culture-licensed and music/pop culture-influenced apparel, accessories, and music and gift items for young men and women. Hot Topic was founded in 1988 and is based in City of Industry, California.

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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 3 of 26
Sector (Retail) 2 of 9
Type (Going Private) 1 of 5
State (California) 1 of 2
Country (United States) 3 of 22
Year (2013) 1 of 2
Size (of disclosed) 6 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-07 Talbots

Hingham, Massachusetts, United States

Talbots is a specialty retailer and direct marketer of women's apparel, shoes, and accessories. Talbots is known for its classic women's clothing. The company operates over 500 Talbots stores in 46 states and Canada. Talbots was founded in 1947, Hingham, Massachusetts.

Buy $391M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-17 Aeropostale

New York, New York, United States

Aeropostale, Inc. is a mall-based, specialty retailer of casual apparel and accessories, principally targeting 14 to 17 year-old women and men. Aéropostale provides customers with a focused selection of high-quality, active-oriented, fashion and fashion basic merchandise at compelling values.

Buy -
Mergr

Product

Company

Legal