* Deal has enterprise value of $525 mln
* Deal to close during first quarter of 2013
PARIS Dec 5 French retail group PPR
said on Wednesday its Redcats mail order unit had agreed to sell
its U.S. 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
OneStopPlus Group consists of OneStopPlus.com, Woman
Within, Roaman's, Jessica London, fullbeauty, KingSize,
BrylaneHome and Bargain Catalog Outlet brands.
Earlier this month, PPR's Redcats unit agreed to sell its
U.S. sports and leisure business, Sportsman's Guide Inc, as well
as its Golf Warehouse business, to retailer Northern Tool +
Equipment for $215 million.
The latest deal follows last month's announcement of plans to
spin off PPR's Fnac music and book unit and last year's sale of
the Conforama furniture unit.
In 2011, PPR hired Rothschild to sell off its entire Redcats
business but found no buyer. Now PPR, the parent company of
high-end brands including Gucci, Bottega Veneta and Yves Saint
Laurent, is looking to unload the unit in pieces.
PPR, the world's third-largest luxury group behind LVMH
and Switzerland's Richemont, has been trying to sell
its various retail businesses for several years in order to
focus on luxury and sports brands, which have stronger growth