PPR's Redcats sells OneStopPlus to private equity firms

PARIS Wed Dec 5, 2012 4:06pm EST

PARIS Dec 5 (Reuters) - French retail group PPR said on Wednesday its Redcats unit had agreed to sell its plus-size fashion business OneStopPlus Group to private equity firms Charlesbank Capital Partners and Webster Capital for an enterprise value of $525 million.

PPR said that the deal, which is expected to close during the first quarter of 2013, marked a further step in the group's transformation into a global luxury, sports and lifestyle retailer. (Reporting by Leigh Thomas; Editing by Christian Plumb)