Star buys majority interest in J Brand

05 Feb '10

4 min read

J Brand represents Star's first investment. Star was formed to invest in up-and-coming consumer branded businesses to which the collective Star partnership would bring strategic value. Star's investment in J Brand was funded by a group of third-party strategic and institutional investors, including a co-investment by private equity firm Genuity Capital Partners. In conjunction with Star's investment, Peter Boneparth, a senior advisor to Irving Place Capital and the former CEO of Jones Apparel Group, will become Chairman of J Brand. The Star venture and partnership with CAA enhances Irving Place Capital's already strong consumer and retail franchise.

Terence Bogan, Vice President, Divisional Merchandising Manager for Women's CO-OP at Barneys, commented, “We are very gratified by the business Barneys has developed with J Brand over the years. Jeff and his J Brand team have given Barneys the ability to offer our clients the best assortment of product available in the marketplace. Through a challenging economic climate, J Brand continues to exceed sales expectations. We look forward to our continued success in building an increasingly meaningful J Brand business.”

The Sage Group, LLC acted as the exclusive financial advisor and Proskauer Rose LLP acted as counsel for J Brand. Bank of America Merrill Lynch's Global Commercial Banking Group provided the acquisition and working capital financing. Star was represented by Kirkland & Ellis LLP's Los Angeles office.

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