PPR's Redcats sells U.S. Plus-Size business

PARIS Wed Dec 5, 2012 4:08pm EST

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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.