Fifth & Pacific to sell Lucky Brand Jeans for $225 mln

Tue Dec 10, 2013 7:43am EST

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.

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