Eddie Bauer Deal Closer

REDMOND, WA-Clothing retailer Eddie Bauer is a step closer to being bought out by private-equity firms Sun Capital Partners Inc. and Golden Gate Capital for about $614 million, or $9.25 per share. The deal has passed the waiting period for the Hart- Scott-Rodino Antitrust Improvements Act without any opposition from federal regulators.

The parties expect to close the transaction some time during this year’s first quarter. Eddie Bauer’s management began marketing the 380-store chain in May when it started seeking strategic alternatives.

Affiliates of Sun Capital Partners, Inc. and Golden Gate Capital are active investors in the retail and consumer products industries. Among Sun Capital’s current affiliated portfolio companies are Mervyn’s, Shopko Stores, Lillian Vernon, Marsh Supermarkets, Anchor Blue Retail Group, Dim Branded Apparel and Most. Among Golden Gate Capital’s current investments is Catalog Holdings, a $1.1 billion revenue direct marketer of women’s apparel whose brands include Spiegel, Newport News, Appleseed’s, Norm Thompson, Drapers and Damons, Venus, and Haband, among other titles. Other consumer-product investments include Herbalife, Eye Care Centers of America, Neways, and Leiner Health Products.