Fifth & Pacific to sell Lucky Brand Jeans for $225 mln
Dec 10 (Reuters) - Fifth & Pacific Cos Inc said it will sell its Lucky Brand Jeans business to an affiliate of private equity firm Leonard Green & Partners L.P. for $225 million as it focuses on its high-end kate spade brand.
Fifth & Pacific said Leonard Green will pay $140 million in cash at the time of closing and the remaining in the form a three-year seller note.
The apparel and accessories maker sold its once-popular Juicy Couture business to Authentic Brands for $195 million in October.
- Israel holds off on escalating Gaza barrage; West wants truce |
- Russia warns Ukraine after shell crosses border |
- Three dead, two wounded in Pasadena, California shootings
- As some high-risk assets take a hit, investors fear worse is to come
- Heavy fighting breaks out near Libya's Tripoli airport, seven dead