Did Sycamore buy Chico's for $1 billion?

("Company" or "Chico's FAS," NYSE: CHS) today announced the completion of its acquisition by Sycamore Partners, a private equity firm specializing in retail, consumer, and distribution-related investments, for $7.60 per share, in an all-cash transaction valued at approximately $1 billion.

Did Sycamore Partners acquire Chicos?

In a deal valued at $1 billion priced at $7.60 per share, private equity firm Sycamore Partners just acquired special fashion retailer Chico's FAS, including the flagship Chico's brand along with White House Black Market and Soma intimates.

How much did Sycamore pay for Chico's?

Chico's FAS Inc. shareholders approved the sale of the fashion company for $1 billion cash to New York-based private equity firm Sycamore Partners.

What is the Sycamore Partners controversy?

In addition, Sycamore Partners-owned companies have been fined for a number of health and safety, wage and hour, and environmental violations . While Sycamore Partners' strategy has led to negative impacts for workers, it has also been ineffective at delivering outsized returns for investors in recent years.

What companies are under Sycamore Partners?

The firm's investment portfolio currently includes Belk, Coldwater Creek, CommerceHub, EMP Merchandising, Hot Topic, MGF Sourcing, NBG Home, Nine West Holdings, Staples, Inc., Staples' United States Retail Business, Staples' Canadian Retail Business, Talbots, The Limited and Torrid.

How is Chico's doing financially?

On November 30, 2023, Chico's FAS Inc (NYSE:CHS) released its 8-K filing, announcing its financial results for the third quarter ended October 28, 2023. The company reported a net income of $5.0 million, or $0.04 per diluted share , compared to $24.6 million, or $0.20 per diluted share, for the same period last year.

Who now owns Chico's?

On January 5, 2024, Sycamore Partners completed the acquisition of the company for approximately 1 billion dollars.

Did Talbots buy Chico's?

Also on Friday, Sycamore said that the Chico's brands have joined its KnitWell Group, a holding company formed last year that also includes Ann Taylor, Loft and Talbots and provides services to plus-size specialty retailer Lane Bryant.

Who is the CEO of Sycamore Partners?

Stefan L. Kaluzny Mr. Kaluzny is co-founder and Managing Director of Sycamore Partners, a New York based private equity firm.

Did Sycamore Partners sell Talbots?

Private equity firm Sycamore Partners has formed a holding company called the KnitWell Group comprised of its Ann Taylor, Loft and Talbots women's specialty businesses .

Who owns Sycamore company?

Sycamore Partners was founded in 2011 by Stefan Kaluzny and Peter Morrow . Before Sycamore, Kaluzny was a managing partner at Golden Gate Capital and was employed since the firm's inception. Prior to joining Golden Gate, he co-founded Delray Farms, Inc.

Who are Sycamore Partners competitors?

Sycamore Partners's competitors and similar companies include The Carlyle Group, Capital Group, Bain Capital and EQT .

Who is Chico's owned by?

Sycamore Partners Chico's FAS / Owner

What happened to Chico's stock?

With the completion of the transaction, Chico's FAS shares of common stock have ceased trading and are no longer listed on the New York Stock Exchange . Solomon Partners, L.P. acted as financial advisor to Chico's FAS, and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor.

Who bought Chico's Fas?

Founded in Sanibel in 1983, Chico's is a well-known fashion retail brand in the United States. Sycamore Partners has announced that it has completed its acquisition of Chico's FAS, a Fort Myers-based retailer, for approximately $1 billion.

Sycamore Partners Is Building A $6 Billion Fashion Powerhouse With Chico’s Acquisition (2024)

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Sycamore Partners Is Building A $6 Billion Fashion Powerhouse With Chico’s Acquisition (2024)

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