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Golden Gate announces sale of majority stake in J. Jill to Arcapita
17
Mar '11
Golden Gate Capital announced that an affiliate has entered into a definitive agreement for the sale of a majority stake in J. Jill to an affiliate of Arcapita Bank B.S.C.

J. Jill, a leading multi-channel retailer of women's apparel, will continue to be led by President and CEO Paula Bennett and the current management team. As part of the transaction, Golden Gate Capital will remain a minority shareholder of the company.

“We have enjoyed a very successful partnership with Paula Bennett and the entire J. Jill team,” said Joshua Olshansky, a Managing Director of Golden Gate Capital. “J. Jill is a fantastic brand and, given their experience in the sector, Arcapita is well positioned to continue building upon the company's long-term growth plan.”

“We look forward to working closely with Paula and her team to continue their success and help the company expand its current operations and open new store locations,” said Scott Buschmann, a Principal of Arcapita. “J. Jill occupies a distinct space in women's branded apparel. We believe that the company's strong brand equity, deep customer loyalty and proven multi-channel strategy position it extremely well for continued expansion.”

“We have worked very closely and successfully with Golden Gate Capital to re-energize the J. Jill brand and look forward to partnering with Arcapita to continue our strong momentum,” said Bennett. “This transaction is a tribute to the more than 2,800 J. Jill associates whose dedication to our customers has made our company's success possible.”

Bank of America Merrill Lynch acted as financial advisor to J. Jill on the sale and Kirkland & Ellis LLP acted as legal advisor on the transaction.

Golden Gate Capital


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