US: Vince prepares for IPO
US clothing group Kellwood and its parent company Sun Capital Partners are set to take sportswear brand Vince public.
Sun Capital Partners subsidiary Apparel Holding said it will be renamed Vince Holding and filed a draft registration for an initial public offering (IPO) of common stock with the Securities and Exchange Commission.
The company said the proceeds of the offering will be used to pay down debt, and for general corporate purposes, including opening new stores.
Sun Capital acquired Vince and related assets for US$75m in 2006.
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