Limited Brands has sold its remaining 25% stake in Limited Stores LLC, which operates The Limited retail locations for $32m.

In 2007, Limited Brands sold a 75% stake in Limited Stores to an affiliate of Sun Capital Partners, a private investment firm that now owns 100% of Limited Stores. Limited Stores has more than 220 mall locations throughout the United States.

"This sale supports our focus on intimate apparel, personal care and beauty products," said Leslie H Wexner, chairman and CEO of Limited Brands. "We wish our long-time partners at Limited Stores continued success... this transition further enables both teams to win."

"This buyback is more than a financial transaction. It is recognition of the successful efforts over the last three years to 'restart' Limited Stores, as well as a demonstration of the confidence Sun Capital has in our future," added Linda I Heasley, CEO of Limited Stores.

"And it's a great future. We continue to have a strong balance sheet after completing this transaction and are opening 10 stores this year and planning an additional 20 in 2011."