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Redcats completes sale of its Missy Apparel Brands
29 Jul '08
2 min read
Redcats Group, a leader in home shopping announced that its wholly owned subsidiary Redcats USA has completed the sale of its missy division including Chadwick's, metrostyle and Closeout Catalog Outlet, to Monomoy Capital Partners, a U.S. private equity fund.
Redcats USA originally announced its intention to sell its missy apparel business earlier this year after the successful acquisition of United Retail Group, which includes almost 500 Avenue stores. The decision was part of the strategic plan to focus on developing the special size brands, as well as the sporting goods/outdoor brands in a true multi-channel format.
Thierry Falque-Pierrotin, Chairman and CEO of Redcats Group, said “The sale of Chadwick's , metrostyle and Closeout Catalog Outlet, in the U.S. is a further step in the focalization of Redcats Group brands portfolio on clear leadership positions.”
Eric Faintreny, Chairman and CEO of Redcats USA, underlined: “With the sale of our missy brands, Redcats USA global strategic repositioning is now fully completed. We are now clearly focused on the men's and women's plus-size apparel, and outdoor gear.”
Stifel, Nicolaus & Company, Incorporated served as financial advisor to Redcats USA and Wachtell, Lipton, Rosen & Katz acted as legal counsel in connection with the above transaction.
Redcats USA originally announced its intention to sell its missy apparel business earlier this year after the successful acquisition of United Retail Group, which includes almost 500 Avenue stores. The decision was part of the strategic plan to focus on developing the special size brands, as well as the sporting goods/outdoor brands in a true multi-channel format.
Thierry Falque-Pierrotin, Chairman and CEO of Redcats Group, said “The sale of Chadwick's , metrostyle and Closeout Catalog Outlet, in the U.S. is a further step in the focalization of Redcats Group brands portfolio on clear leadership positions.”
Eric Faintreny, Chairman and CEO of Redcats USA, underlined: “With the sale of our missy brands, Redcats USA global strategic repositioning is now fully completed. We are now clearly focused on the men's and women's plus-size apparel, and outdoor gear.”
Stifel, Nicolaus & Company, Incorporated served as financial advisor to Redcats USA and Wachtell, Lipton, Rosen & Katz acted as legal counsel in connection with the above transaction.
Redcats Group
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