Fifth & Pacific sells Lucky Brand to Leonard Green

Fifth & Pacific Companies has entered into a definitive

agreement to sell Lucky Brand Jeans to an affiliate of Leonard Green & Partners. Fifth & Pacific Companies will enter into a Transition Services Agreement (TSA) with Lucky Brand Jeans in order to support the transferred business while the new owner creates a standalone infrastructure. The TSA is expected to span up to 24 months.

William L. McComb, Chief Executive Officer of Fifth & Pacific Companies, said: “It is truly a historic day at Fifth & Pacific Companies - a return to our roots as a mono-brand company. The decision to sell Lucky Brand Jeans is the result of a process we began last year. It is the outcome of our work to identify the best way to unlock shareholder value.“

Fifth & Pacific Companies is based in New York. It designs and markets a portfolio of retail-based, premium, global lifestyle brands including Kate Spade and Lucky Brand. Leonard Green & Partners is based in California. It is a private equity firm and invests in companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth capital investments, corporate carve-outs and selective public equity and debt positions.