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Article: Ellen Tracy Sold to Financial Sponsors.
- Article from:
- Mergers & Acquisitions Report
- Article date:
- February 18, 2008
- Author:
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Publicly held Liz Claiborne has unloaded its Ellen Tracy brand in a $27.3 million deal, not including a potential $15 million earnout provision, selling the label to a collection of financial investors made up of hedge fund Radius Partners and private equity firm Windsong Brands, as well as individual investors Barry Sternlicht and Marvin Traub.
The company has wrapped up 14 evaluations of the original 16 brands it placed under review. It sold its prAna sportswear brand last week to Steelpoint Capital Partners, fetching $36.5 million in a cash deal, and also completed its previously announced sales of Laundry By Design and C&C California, which each went to Perry ...