Golden Gate to acquire Express stores

Share this content:

Reflecting its commitment to its multichannel businesses Victoria's Secret and Bath & Body Works, Limited Brands has signed a definitive agreement to sell a majority interest in its Express brand to Golden Gate Capital for $548 million in cash. The company also said it is exploring strategic alternatives for its Limited Stores business.

The deal for 67 percent ownership of Express is expected to close by July 6.

"Our strategic agenda focuses on growth in the intimate apparel and personal care and beauty segments of our business," Leslie H. Wexner, chairman/CEO of Limited Brands, Columbus, OH, said in a statement.

Mr. Wexner was referring to the company's Victoria's Secret and Bath & Body Works brands, both of which have strong multichannel capabilities.

In contrast, the Express Web site at is not e-commerce-enabled and The Limited does not appear to have a consumer Web site.

Express will continue to operate under the same name and keep its headquarters in Columbus, OH. Jay Margolis will lead the company as CEO.

While Golden Gate Capital and Sun Capital Partners' offer to acquire Eddie Bauer fell through in February, the San Francisco-based private-investment firm has built a portfolio of women's specialty brands in recent months, many of them with strong catalog heritages including Spiegel, Newport News, Appleseed's, Draper's & Damon's, Norm Thompson and Haband.


Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

PAN Communications is an award-winning integrated marketing and public relations agency for B2B technology and healthcare brands. PAN's data-driven approach allows the firm to specialize in public relations, social media, content and influencer marketing, and data and analytics. PAN partners with brands to create unique, integrated campaigns that captivate audiences.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above