December 11, 2013 |
Lucky Brand Jeans is coming home again. Los Angeles private-equity firm Leonard Green & Partners has agreed to pay $225 million to acquire Lucky from New York fashion company Fifth & Pacific Cos. The acquisition means that Lucky, founded in Vernon in 1990 and moved last year to a 1940s Art Deco building in downtown Los Angeles, will be locally owned once again. Denim veterans and Lucky co-founders Gene Montesano and Barry Perlman used clever marketing - including the "Lucky You" label stitched into the fly - to create one of the country's most popular mid-level denim jeans.
December 2, 2013 |
Hilton Worldwide Holdings said it plans to raise as much as $2.4 billion in an initial public offering, in what would be the biggest IPO ever for a hotel company. The McLean, Va.-based company and its shareholders plan to sell 112.8 million shares for $18 to $21 a piece later this month, according to a regulatory filing. The sale could more than double the investment of the Blackstone Group, the private equity firm that sunk in about $26 billion to take Hilton private in 2007.
November 19, 2013 |
Carpinteria-based CKE Inc., known for the raunchy commercials and juicy burgers from its Carl's Jr. chain, will be sold to the owner of decidedly G-rated brands Cinnabon and Auntie Anne's. CKE, currently controlled by affiliates of New York private equity firm Apollo Global Management, will change hands to an affiliate of Roark Capital Group, a private equity firm in Atlanta. Roark's portfolio is stuffed with popular food brands such as Wingstop, Corner Bakery Cafe, Seattle's Best Coffee and Arby's.
November 16, 2013 |
WASHINGTON -- Former Secretary of the Treasury Timothy F. Geithner is becoming a financial industry executive, taking a high-level job with the private-equity firm Warburg Pincus, the firm announced Saturday. Geithner, who was a major player in the federal government's response to the 2008 financial crisis and the Obama administration's formulation of economic policy, will become a managing director of the company and a member of its executive management group, Warburg Pincus said.
September 24, 2013 |
Popular stationery company Paper Source has changed hands, from Southern California private equity firm Brentwood Associates to investment management firm Investcorp. The financial terms of the deal were not disclosed. The Chicago-based chain, which sells paper goods, gifts and crafting supplies across 23 states and the District of Columbia, was founded in 1983. Brentwood contributed capital in 2007. Since then, Paper Source's store count has increased to 73 units from 21. Now, there are nearly 20 stores in California alone.
August 12, 2013 |
Pianos seem to be popular on Wall Street, as two financial firms face off in their quests to acquire Steinway Musical Instruments Inc. The Waltham, Mass. company - which in addition to its namesake pianos also makes Bach Stradivarius trumpets, Selmer Paris saxophones, Leblanc clarinets and more - said it has received a superior takeover bid to the deal announced in June with private equity firm Kohlberg & Co. The new bidder, an unnamed affiliate of a mysterious investment firm only described as managing $15 billion, is offering $38 a share for Steinway.