Sun Capital could possibly expand the chain, found in major outlet centers across the country, says Matthew Garff, VP of the Boca Raton, FL-based firm. "In think there's growth potential," he said. "Levi Strauss is a fabulous brand, and we think we can make these stores very profitable."
Sun Capital operates the stores through a licensing agreement with Levi Strauss & Co. Levi also owns a handful of their own outlet stores in the US, Garff says. The stores will be run under Sun Capital's Most division.
Sun Capital has been busy in the retail world over the last few years. In September the firm, along with Cerberus Capital Management, L.P., Lubert-Adler and Klaff Partners, L.P., bought the 257-unit discount-department store chain Mervyn's. Sun Capital also owns Bruegger's Bagels, Media Play, Sam Goody and other retail chains.
Casual Male's sale of the outlets comes after its acquisition at the beginning of the month of the 21-store Rochester Big and Tall Clothing chain. Casual Male, based here, owns more than 500 stores across the country.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
