Dallas, Texas 12/18/2013 (FINANCIALSTRENDS) – Recently Sycamore Partners LLC which is a private equity firm announced that it will pay about $16 per share in order to buy controlling stake in apparel retailer The Jones Group Inc. (NYSEJNY). As per the company’s spokesperson they are trying to negotiate a deal in this regard at the earliest and the coming few weeks might witness this acquisition process happening. The overall cost of the acquisition seems to be around $1.3 billion, however the total cost is still not final as talks are going on and nothing concrete can be said till the time final announcement is made.
If recent estimates are to be believed the current market value of the Jones Group is believed to be around $1.1 billion.
Overview of the company
The Jones Group Inc. (NYSEJNY) is a leading marketer, designer and wholesaler of different brands of clothing. Currently the company has tie-ups with a total of 35 different brands such as Nine West, Anne Klein, Kurt Geiger, Rachel Roy, Robbi & Nikki, Le Suit and many more such leading apparel brands. The 35 brands also include companies like apparel, Jeanswear, jewelry, footwear and handbags.
The company is also famous for its innovative concepts and offers very high quality products. Company also offers affordable clothing segment that is excellent in quality and is also famous for its talent and operational execution of different verticals. Another best thing about Jones Group is that it also markets directly to consumers through its retail and brand specialty stores and outlets. Company is also present on e-commerce sites and offers good amount of discounts to attract more and more customers. With Christmas season and New Year celebrations coming it seems that the company is heading towards a bumper sale in the coming days.