Multichannel retailer Hanna Andersson and Gerber Childrenswear have been sold by Kellwood Company, an affiliated company of private equity firm Sun Capital Partners Inc., to Childrenswear LLC, another Sun Capital affiliate, for $179 million.
Both brands will operate as independent businesses within the Childrenswear operation.
“As a standalone entity, Hanna Andersson will be better able to focus on improving our products and expanding channel opportunities, as well as moving quickly in a challenging retail environment,” said Philip Iosca, CEO at Hanna Andersson, in a statement.
Collectively, Hanna Andersson and Gerber Childrenswear generated $267 million for fiscal 2007 and $218 million for the first nine months of fiscal 2008.
Kellwood Company is a leading women’s apparel marketer, specializing in branded labels such as Baby Phat, Sag Harbor and Briggs New York.
Hanna Andersson offers a complete line of products for children, including long johns, dresses, outerwear and coordinated accessories. Hanna Andersson operates 23 premium retail stores and six outlet stores, as well as an Internet site and a catalogue