US: Lion Capital acquires majority stake in John Varvatos
By Petah Marian | 9 March 2012
Lion Capital has acquired a majority stake in John Varvatos enterprises from VF Sportswear.
The company announced yesterday (8 March) that the deal is expected to be completed within the second-quarter of this year. VF Corp bought John Varvatos through its acquisition of Nautica in 2003.
"Behind John's unique style and uncompromising vision, the John Varvatos brand has become one of the most exciting brands to enter the men's luxury apparel landscape in the past dozen years. With a loyal and rapidly growing customer base, the brand is well positioned for future growth across multiple product lines and distribution channels both in the United States and internationally. We look forward to unlocking the substantial potential that we see within the brand over the next several years," said Lion Capital partner Lyndon Lea.
The company will continue to operate as John Varvatos Enterprises, and remain headquartered in New York City. Varvatos will remain chairman and chief creative officer. It does not expect the deal to have any impact to jobs or changes in the day-to-day operations of the business.
Sectors: Apparel
Companies: John Varvatos
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