Sycamore Partners

Sycamore Partners is a private equity firm based in New York specializing in retail and consumer investments. The firm has more than $3.5 billion in capital under management. Some of the retail investments made by Sycamore Partners include Belk, Inc, talbots, and Nine West. The recent purchase^[1] of Staples Inc. for $6.9 billion was announced on June 28, 2017, expected to close in late 2017.

Investments

In 2011, Sycamore acquired a 51% stake in MGF Sourcing, finally completing the total takeover in 2015. ^[2]

In 2012 the firm acquired Talbots for $391 million.^[3]

In 2013, the Sycamore acquired Hot Topic for $600 million^[4] and Torrid $600 million.^[4]

In 2014, the firm acquired Coldwater Creek,^[5] Jones New York for $2.2 billion^[6] which was then sold to Authentic Brands Group in 2015.^[7] Kurt Geiger ^[8] which was then sold to Cinven in 2015.^[9] Nine West for $2.2 billion^[10] Sycamore also acquired Stuart Weitzman for $2.2 billion^[10] selling the business to Coach, Inc. in 2015 for $574 million.^[11]

In 2015, the firm acquired Belk, Inc $3 billion,^[12] and EMP Merchandising,^[13] whilst divesting Pathlight Capital^[14]

In 2017, Sycamore group company, Nine West Holdings, acquired kasper,^[15] NBG Home^[16]. The firm then went onto win the bid for The Limited, bidding $26.8 million.^[17] In June 2017, Reuters reported that Staples Inc. had agreed to sell itself for $6.9 billion.^[18] Sycamore also sold over 300 Dollar Express stores to rival, Dollar General.^[19]

References