(Filed Under Financial and General Interest News). Sycamore Partners, a New York-based private equity firm, has acquired a 51 percent controlling interest in Mast Global Fashions, the third-party apparel sourcing division of Limited Brands, Inc.
Limited Brands is retaining a 49 percent stake in the standalone apparel sourcing and production company, and will retain 100 percent ownership of its separate sourcing operation for its intimate apparel and beauty products businesses.
"Sycamore shares our values and our approach to business," said Limited Brands chairman and C.E.O. Leslie H. Wexner. "The change enables our Limited Brands team to continue our focus on our strategic priorities — growing our intimate apparel, beauty and personal care businesses."
Sycamore Partners was established in 2011 and is focused on consumer and retail investments. Limited Brands is the parent company of Victoria’s Secret, Pink, Bath & Body Works, La Senza and Henri Bendel and currently operates 2,628 specialty stores in the United States alone.
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