Sycamore Partners said Feb. 24 that it acquired The Limited‘s brand and other related intellectual property assets. Sycamore said it bought the Limited’s intellectual property through a competitive auction fun by The Limited as part of its bankruptcy process. Financial terms weren’t announced but Reuters reported that Sycamore bid $26.8 million.
NEW YORK, Feb. 24, 2017 /PRNewswire/ — Sycamore Partners today announced that it has acquired The Limited’s brand and other related intellectual property assets. The intellectual property was purchased through a competitive auction run by The Limited as part of its ongoing Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware.
Sycamore plans to reintroduce the brand to the marketplace at a later date and will communicate with The Limited’s loyal customers about how to obtain the merchandise they know and love.
About Sycamore Partners
Sycamore Partners is a private equity firm based in New York specializing in consumer and retail investments. The firm has more than $3.5 billion in capital under management. The firm’s strategy is to partner with management teams to improve the operating profitability and strategic value of their businesses. The firm’s investment portfolio currently includes Belk, Coldwater Creek, Dollar Express, EMP Merchandising, Hot Topic, MGF Sourcing, Nine West Holdings, Talbots and Torrid.