Golden Gate Capital buys US clothing retailer J Jill

Golden Gate’s subsidiary, Jill Acquisition, paid a $75m cash purchase price, minus an $8.1m adjustment based on estimated closing date working capital.

Under the terms of the deal, Golden Gate has acquired J Jill’s assets, including 205 stores, the New Hampshire distribution facility, intellectual property rights, accounts receivable and inventory related to the stores.

The sale is part of Talbots’ strategy to focus exclusively on rejuvenating its core brand and return to profitable growth.

Golden Gate Capital, which has over $9bn of assets under management, focuses on sectors including consumer products and retail, software and IT services, semiconductors, electronics, financial services and media.

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