Charming Shoppes Buys Crosstown Traders for $218M

Share this article:
Charming Shoppes Inc., which specializes in women's plus-size apparel, said yesterday that it entered into a definitive agreement to acquire Crosstown Traders Inc. from JPMorgan Partners, the private equity arm of J.P. Morgan Chase & Co., for $218 million in cash plus Crosstown Traders' debt.


The acquisition has been approved by Charming Shoppes' board of directors and is expected to be completed in the second quarter.


Crosstown Traders has11 catalog titles. Its revenues last year were $460 million.


Charming Shoppes plans to continue to operate Crosstown Traders as a separate entity, which will remain at its Tucson headquarters.


Share this article:
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Generating Loyalty for Brands and Retailers in an Omnichannel World

Generating Loyalty for Brands and Retailers in an ...

Harnessing personas, loyalty programs, and new technologies can help marketers better connect with customers.

News Byte: Salesforce Forms Unit to Focus on Verticals

News Byte: Salesforce Forms Unit to Focus on ...

The industries business unit, led by ex-White House CIO Vivek Kundra, will serve six industry groupings.

Columbia U. Puts the "Do" in "Donation"

Columbia U. Puts the "Do" in "Donation"

Columbia University raises nearly $7 million in donations in just 24 hours with a combination of social media, live events, and gamification.