Sycamore Got a Bargain For Ann Taylor and Loft, But Is Now Tasked With a Turnaround

Ascena paid $2 billion to buy the two brands in 2015, but is now selling them to the PE firm for a fraction of that

Private equity firm Sycamore is acquiring Ann Taylor and Loft for $540 million from bankrupt Ascena. Getty Images

While consumers across the U.S. hunted for bargains during Cyber Week, private equity firm Sycamore Partners was indulging in a little shopping of its own. On Thanksgiving Day, it announced the acquisition of the Ann Taylor, Loft, Lou & Gray and Lane Bryant brands from beleaguered parent Ascena with a $540 million offer.

The Business of Marketing

Don't miss The Business of Marketing, a new series featuring leading c-suite executives sharing insights on the importance of leveraging the intersectionality of marketing, finance, technology, HR and the boardroom to drive business growth. Tune in.

@RichCollings Richard Collings is a retail reporter at Adweek.