American Apparel Acquired

LOS ANGELES-Buyout firm Endeavor Acquisition Corp. is acquiring retailer and T-shirt maker American Apparel in a deal worth about $375 million in stock and debt. Endeavor, based in New York City, will contribute 32.3 million shares of its stock, which is trading around $8.25 and will take on $110 million in debt.

The retail company will keep its name, and founder and CEO Dov Charney will remain its chief executive. Endeavor executives expect to trade the locally based retailer on the American Stock Exchange or some other national stock exchange.

American Apparel operates 143 units in 11 countries. The retailer is on track to bring in sales of $275 million by year’s end and EBIDTA of $30 million.