Mar 31, 2015 9:19 AM
TowerBrook to buy women's clothing brand J.Jill
The Associated Press
NEW YORK (AP) Woman's clothing retailer J.Jill said Tuesday that it is being acquired by an investment management firm.
J.Jill, which is based on Quincy, Massachusetts, has about 250 stores around the country that sell clothing, shoes and accessories.
It is being acquired by TowerBrook Capital Partners L.P. which is buying it from the investment firm Arcapita and private equity firm Golden Gate Capital.
Financial terms of the deal, which is expected to close in the second quarter, were not disclosed.
TowerBrook, which has offices in New York and London, has diverse investments, including the St. Louise Blues ice hockey team and aircraft interior designer AIM Aviation. In the retail industry, it currently owns high-priced denim brand True Religion and previously owned high-end Jimmy Choo shoe company before selling it off in 2011.