Our client, J Brand, sells majority share for $85 Million…
After months of negotiations, Los Angeles premium-denim maker J Brand has sold nearly 60 percent of the company for $85 million to a private equity firm.
The deal with Star Avenue Capital of Los Angeles, announced Feb. 4, means J Brand now has more resources to grow its label beyond high-end blue jeans and expand to more international markets.
“The objective was not about the money. We are very well-financed and stable,” said Jeff Rudes, the company’s co-founder and chief executive. “It was about strategic partnerships and value added.”
Under the terms of the deal, Rudes will stay on as chief executive, and Albert Schami will remain the chief operating officer. Susan Crippen, the creative director and the other co-founder, will be leaving after receiving a $7 million payout.
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