US: PPR sells plus size business to private equity firms
French apparel group PPR has entered into an agreement to sell its US plus size business OneStopPlusGroup to private equity firms Charlesbank Capital and Webster Capital as it works to focus on its luxury and sportswear businesses.
The Gucci, Yves Saint Laurent and Puma owner said it will sell the business for US$525m. The deal includes the OneStopPlus.com, Woman Within, Roaman's, Jessica London, fullbeauty, KingSize, BrylaneHome and Bargain Catalog Outlet brands.
"The sale of OneStopPlus Group will mark a further step forward in the transformation of PPR into a global leader in apparel and accessories within the Luxury and Sport & Lifestyle sectors," a statement said.
"Together with the sale of the Sports and Leisure Group to Northern Tool + Equipment, which was announced last month, the sale of OneStopPlus Group will constitute the sale of PPR's entire Redcats USA business."
The deal is expected to close during the first quarter of 2013.
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