Home / Knowledge / News / Fashion / Ascena Retail Group completes acquisition of ANN INC
Ascena Retail Group completes acquisition of ANN INC
22
Aug '15
Ascena Retail Group, Inc. a leading American specialty retailer offering clothing, shoes, and accessories for missy and plus-size women, has announced that it has completed its acquisition of ANN INC. for a combination of cash and Ascena stock in an accretive transaction.

In a statement Ascena said that with the completion of the merger, ANN INC. shares have been be delisted from the NYSE and trading have cease at the close of business on August 21. ANN INC. will continue to operate as a wholly-owned subsidiary of Ascena.

With the addition of the Ann Taylor, LOFT, and Lou & Grey brands, Ascena is now one of North America's largest and most diversified specialty apparel retailers, with $7.4 billion in trailing 12 month sales, a combined fleet of over 4,900 stores, and over 70,000 associates.

David Jaffe, Ascena's president and CEO, commented: “We expect to leverage ascena's state-of-the-art distribution and fulfillment centers and its shared services capabilities to rapidly and comprehensively integrate the ANN INC. brands, and drive significant value to our stockholders. We have identified $150 million in annualized run rate synergies resulting from this transaction that we expect to capture by the end of the third year post-closing.”

ANN INC president and CEO Kay Krill said, “Combined with Ascena, we have a stronger competitive position and financial base as part of the nation's largest specialty retailer focused exclusively on women's apparel. In taking this next step, our focus on our clients remains unchanged. We look forward to continuing to be her go-to wardrobing destination by delivering the same great fashion, the same high level of quality and service, and the seamless shopping experience that are hallmarks of shopping with our brands.” (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Jens Mahnke from Pexels

Textiles | On 22nd Oct 2018

India levies anti-dumping duty on flax yarn from China

The ministry of finance, Government of India, has imposed definitive...

Courtesy: Donear

Textiles | On 22nd Oct 2018

Aspiring middle class shaping menswear fabric trend

The key trends shaping menswear fabric include a new middle class and ...

Belarusian petrochem firms sign contracts with Russia

Textiles | On 22nd Oct 2018

Belarusian petrochem firms sign contracts with Russia

Belarus recently signed contracts worth nearly RUB 12 billion for...

Interviews View All

Krishnanand Tripathi, Textrade International Ltd

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Headhonchos, Indian textile value chain

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Veronique Lee, Modavanti

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

C Dhandayuthapani,

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Vikas Banduke,

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Abhishek Dhanuka,

Abhishek Dhanuka

Vyom International Pvt Ltd, established in 2002, is one of Surat's leading ...

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search