Content about Sycamore Partners

March 7, 2013
Sycamore Partners to acquire Hot Topic

Sycamore Partners has agreed to acquire teen retailer Hot Topic for approximately $600 million, or 14 cents per share in cash.

CITY OF INDUSTRY, Calif. — Sycamore Partners has agreed to acquire teen retailer Hot Topic for approximately $600 million, or 14 cents per share in cash. The agreement, which has been unanimously approved by Hot Topic’s board of directors, represents a premium of approximately 30% over Hot Topic’s closing stock price on March 6.

August 7, 2012
Sycamore completes acquisition of Talbots; appoints former Vitamin Shoppe executive as CEO

Private equity firm Sycamore Partners, which has wrapped up its $391 million acquisition of The Talbots, appointed Michael Archbold, formerly president and COO of Vitamin Shoppe, as CEO and CFO of Talbots.

HINGHAM, Mass. — Private equity firm Sycamore Partners, which has wrapped up its $391 million acquisition of The Talbots, appointed Michael Archbold, formerly president and COO of Vitamin Shoppe, as CEO and CFO of Talbots. Archbold, who also served as executive VP and CFO of Saks Fifth Avenue, replaces Trudy Sullivan, who resigned from the CEO’s job after Sycamore completed its acquisition of Talbots late last week.

July 16, 2012
Talbots buyot extended

TLB Merger Sun, an affiliate of Sycamore Partners, has extended the expiration of its tender offer to acquire all of the outstanding shares of common stock, and the associated stock purchase rights, of The Talbots Inc. for $2.75 per share, net to the seller in cash, without interest, and less any applicable withholding taxes, to 5 p.m., New York City time, on Friday, July 27, unless further extended.

NEW YORK — TLB Merger Sun, an affiliate of Sycamore Partners, has extended the expiration of its tender offer to acquire all of the outstanding shares of common stock, and the associated stock purchase rights, of The Talbots Inc. for $2.75 per share, net to the seller in cash, without interest, and less any applicable withholding taxes, to 5 p.m., New York City time, on Friday, July 27, unless further extended.

June 13, 2012
Sycamore delays Talbots offer by two days

Talbots said private-equity firm Sycamore Partners extended the date of the commencement of its offer to buy the women's apparel retailer by two days.

HINGHAM, Mass. — Talbots said private-equity firm Sycamore Partners extended the date of the commencement of its offer to buy the women's apparel retailer by two days.

Sycamore will now begin its offer for all outstanding Talbots' shares on June 15, Talbots said in a statement.

Back in May, Sycamore raised its takeover offer to $214.6 million.

Talbots said Sycamore had offered to pay $3.05 per share -- slightly higher than the $3.00 per share offer it made in December.

May 29, 2012
Talbots buyout talks with Sycamore end

Talbots said Friday that Sycamore Partners had walked away from negotiations over a proposed $215 million buyout of the retailer.

HINGHAM, Mass. — Talbots said Friday that Sycamore Partners had walked away from negotiations over a proposed $215 million buyout of the retailer. The company, which also reported first quarter results, said it was exploring other strategic alternatives.

May 7, 2012
Sycamore Partners raises offer for Talbots

Talbots said it has received a raised takeover offer of $214.6 million from private equity firm Sycamore Partners.

HINGHAM, Mass. — Talbots said it has received a raised takeover offer of $214.6 million from private equity firm Sycamore Partners. The company also said it entered an exclusivity agreement with Sycamore, which will end on May 15.

Talbots said Sycamore had offered to pay $3.05 per share -- slightly higher than the $3.00 per share offer it made in December.

The board of retailer said it continues to evaluate strategic alternative.

December 20, 2011
Talbots rejects buyout offer from Sycamore Partners

Talbots Inc. has rejected a buyout offer from private-equity firm Sycamore Partners its biggest shareholder, saying the bid “substantially” undervalues the company.

NEW YORK — Talbots Inc. has rejected a buyout offer from private-equity firm Sycamore Partners its biggest shareholder, saying the bid “substantially” undervalues the company. The bid was valued at approximately at $205.2 million.

Sycamore is Talbots biggest shareholder, with a 9.9% in the company. In a statement, Talbots called the proposal inadequate and said it will explore its strategic options to help maximize value for its shareholders. The retailer did not set a deadline for when its review will end.