×
362
Fashion Jobs
LIFE TURN MANAGEMENT CONSULTANT
sr. Manager Production - Sricity, Tada - Mnc Company - Engineering Ind
Permanent · Tada
MCKENZIE
Hiring For Retail Store Merchandiser / Manager
Permanent · Chennai
V2B GLOBAL CONSULTANTS
sr Technician Apparel -Buying Office
Permanent · Gurugram
MANPOWERGROUP SERVICES INDIA
Opening || Horeca Sales Manager || Kolkata
Permanent · Kolkata
ADIDAS
Senior Product Owner - Machine Learning & ai
Permanent · GURUGRAM
ADIDAS
Senior Technology Consultant - Omnichannel
Permanent · GURUGRAM
PUMA
Manager- Warehouse (B2C)
Permanent · Bengaluru
HARMAN FINOCHEM
sr. Manager- Api Production For Srp With Leading Pharma @ Aubad
Permanent · Aurangabad
PNB HOUSING
Area Sales Manager
Permanent · Thane
PNB HOUSING
Area Sales Manager
Permanent · Pune
JM FINANCIAL HOME LOANS LTD
Area Sales Manager - Home Loans
Permanent · Chennai
DANIEL WELLINGTON
IT Support Specialist
Permanent · MUMBAI
ADIDAS
Senior Manager, Ecommerce Campaign Operations, Apac
Permanent · GURUGRAM
MANPOWERGROUP SERVICES INDIA
Opening || Horeca Sales Manager || Kolkata
Permanent · Kolkata
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Karaikal
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Thiruvarur
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Tirunelveli
AVANTOR
Area Sales Manager- Lab Consumables
Permanent · Pune
ADIDAS
Manager Brand Activation Originals
Permanent · GURUGRAM
ZACH LIFESTYLE PVT. LTD.
Manager - Content & Social Media
Permanent · MUMBAI
MONALISA ELECTRONIC DESIGN CENTRE PRIVATE
Excellent Job Opportunity For Area Sales Manager- gt & mt
Permanent · Shimla
RRD
Associate Production Manager
Permanent · Chennai
By
Reuters
Published
Jul 3, 2015
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Sycamore Partners in bid to buy Belk for more than $3 billion

By
Reuters
Published
Jul 3, 2015

Sycamore Partners is preparing an offer for Belk Inc that could value the U.S. department store chain at between $3 billion and $3.5 billion, including debt, and become the buyout firm's largest deal, people familiar with the matter said on Thursday.

Sycamore is in the process of finalizing financing arrangements for a potential acquisition of Belk, the people said. The family that owns Belk is expected to make a decision on whether to sell the company this month, the people added.


It was not immediately clear what competition Sycamore faced for Belk and whether its bid would meet the Belk family's valuation expectations. Private equity firms TPG Capital LP, KKR & Co LP, Bain Capital LLC and Golden Gate Capital considered offers for Belk earlier, according to the people.

The sources asked not to be identified because the sale process is confidential. Sycamore, Belk, TPG, KKR, Bain and Golden Gate declined to comment.

Based in Charlotte, North Carolina, Belk operates 297 stores in 16 states, primarily in the U.S. South. It also operates a website on which it sells national brands and private-label apparel, shoes and accessories.

Founded in 1888 by William Henry Belk, the company is in the third generation of Belk family ownership.

In the fiscal year that ended Jan. 31 2015, Belk generated revenue of $4.1 billion, which was up 1.8 percent compared with the previous year.

U.S. consumer spending has remained sluggish for most of this year despite lower gasoline prices due to bad weather and a desire by consumers to save. This has squeezed sales for department stores, prompting chains to resort to smaller store models and aggressive discounting.

Based in New York, Sycamore has invested in retail and consumer companies that include Aeropostale Inc, Jones New York and Stuart Weitzman. It said last year it had raised a $2.5 billion fund for new investments.




 

© Thomson Reuters 2023 All rights reserved.