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After seven months of seeking new parents, Ellen Tracy is again reportedly close to parting ways with old parent Liz Claiborne Inc. Midmarket buyout shop Radius Group and apparel firm Windsong Brands reportedly are close to a deal to buy the unit for $50 million, according to a New York Post story. However, the pair are just the latest rumored bidders. Last month, American Capital Strategies Ltd. was allegedly close to a deal for the brand, according to Fortune's Garmentos blog. Additionally, Windsong frequently is rumored to be a buyer for Claibrone's orphaned brands, but has yet to win any of the units Claiborne has been selling, following its strategic review that began last July.
Earlier this month Claiborne sold its yoga and climbing apparel division prAna to Steelpoint Capital Partners LP for about $40 million and sent Laundry By Design and C&C California to Perry Ellis International Inc. for about $37 million in January. Last October saw the Emma James, Intuitions, JH Collectibles and Tapemeasure brands go to the Li & Fung USA division of Hong Kong-based Li & Fung Ltd. Liz Claiborne plans on retaining its Enyce brand and has discontinued the Sigrid Olsen moniker. Two more brands -- Kensie and Mac & Jac -- remain under review, with Liz Claiborne expected to determine their fate by the end of March. - George White See story from the New York Post See story about prAna sale from TheDeal.com See Dealscape post on likelihood of PE bid for Ellen Tracy See Dealscape post on Perry Ellis as frontrunner See story about Claiborne's strategic review from TheDeal.com See auction profile from AuctionBlock.com (subscription required) CategoriesContributed content from Middle market video
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