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.
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