US: VF sells John Varvatos stake to Lion Capital
VF Sportswear, a subsidiary of VF Corporation, has completed the sale of its majority stake in John Varvatos Enterprises to private equity firm Lion Capital.
The deal, which was originally announced in March sees Mr Varvatos retaining an ownership position and will continue as chairman and chief creative officer. Terms of the transaction were not disclosed.
The John Varvatos men's wear brand includes tailored clothing and sportswear, as well as footwear, bags, belts, eyewear, watches and men's fragrances. There is also the younger, edgier John Varvatos Star USA Collection and Converse by John Varvatos.
It became part of VF Corporation's portfolio as part of its acquisition of the Nautica brand in 2003.
Lion Capital will continue to operate the business as John Varvatos Enterprises Inc headquartered in New York City.
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