Liz Claiborne & Mexx announce Joint Venture agreement

02 Sep '11

4 min read

Alec Gores, Founder and Chairman of The Gores Group, said: "We are excited to partner with Liz Claiborne, Inc. and to back this management team to continue the turnaround efforts which are well underway. This transaction serves as a prime example of our ability to apply our extensive carve-out experience to the retail sector, and we see an excellent opportunity to create value and rebuild a great brand."

Perella Weinberg Partners advised Liz Claiborne, Inc. on the transaction and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel.

Liz Claiborne, Inc. designs and markets a global portfolio of retail-based premium brands including Juicy Couture, kate spade, Lucky Brand and Mexx. The Company also has a refined group of department store-based brands with strong consumer franchises including the Monet family of brands, Kensie, Kensiegirl, Mac & Jac, and the licensed DKNY Jeans and DKNY Active brands. The Liz Claiborne and Claiborne brands are available at JCPenney and the Liz Claiborne New York brand designed by Isaac Mizrahi is available at QVC.

Founded in 1987, The Gores Group, LLC is a private equity firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer.

Liz Claiborne Inc

More Liz Claiborne Inc News... More Apparel/Garments News - United States Of America...