Daily News: April 10, 2014

Morgan Stanley, Others Finance Sycamore’s The Jones Group Buy

Sycamore Partners announced it completed its acquisition of The Jones Group. The transaction is valued at approximately $2.2 billion. Morgan Stanley, Jefferies, KKR Asset Management, MCS Capital Markets, Wells Fargo Capital Finance and Bank of America Merrill Lynch provided financing for the transaction.

Citigroup Global Markets acted as financial advisor to The Jones Group, and Peter J. Solomon Company acted as financial advisor to the company’s board of directors; Cravath, Swaine & Moore acted as legal advisor to The Jones Group; and Skadden, Arps, Slate, Meagher & Flom acted as legal advisor to the independent directors of the company’s board of directors.

BofA Merrill Lynch and Guggenheim Securities acted as financial advisors to Sycamore Partners. Winston & Strawn, Simpson Thacher & Bartlett and the law offices of Gary M. Holihan acted as legal advisors to Sycamore Partners.

The Jones Group transaction is the fifth investment by Sycamore Partners, which currently has more than $1 billion in capital under management.

“We are excited to have finalized the acquisition of The Jones Group and are confident this will be a long and successful partnership,” said Stefan Kaluzny, a managing director of Sycamore Partners. “We look forward to working with The Jones Group team to continue to grow this outstanding portfolio of businesses and brands and create exceptional products for our customers.”

Wesley R. Card, The Jones Group CEO, said, “We are very pleased to have completed this transaction, which delivers meaningful value to all of our shareholders. Sycamore Partners’ extensive knowledge and expertise in the consumer and retail space will allow The Jones Group’s brands to reach their full potential and continue to resonate with our loyal customers.”

As a result of the completion of the merger, the common stock of The Jones Group is no longer listed for trading on the New York Stock Exchange.

The Jones Group is a global designer, marketer and wholesaler of more than 35 brands with product expertise in apparel, footwear, jeanswear, jewelry and handbags.