Private equity firm Sycamore Partners has acquired Kurt Geiger owner Jones Group in a deal worth $1.2 bn (£733m).
The deal, which is expected to close in the second quarter of 2014, values the US retail group at $15 per share.
Jones Group owns brands including Kurt Geiger, luxury shoe brand Stuart Weitzman, Jones New York apparel, Anne Klein and Gloria Vanderbilt and has been battling poor sportswear sales and cautious consumer spending in the last year.
The New York-based business put itself up for sale in the summer when Barington Capital Group, which took a stake in the group in spring, urged the business to sell off some of its numerous brands.
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