Limited Sells Limited, Express
Columbus, Ohio–based retail giant Limited Brands Inc. inked a definitive agreement to transfer a 75 percent ownership interest in its Limited Stores business to affiliates of Sun Capital Partners, which will inject $50 million in equity capital into the business and arrange for a $75 million credit facility. The Limited Stores announcement came on the heels of Limited Brands’ announcement of the completion of the sale of a 75 percent ownership stake in its Express retail chain to Golden Gate Capitol affiliates. Both retail chains will continue to operate under their own nameplates, and both will remain headquartered in Columbus. Limited Stores’ 251 stores generated $493 million in net sales in 2006. Express’ 624 stores generated $1.7 billion in net sales in 2006. Limited Brands will now focus on its two largest retail divisions: Victoria’s Secret and Bath and Body Works. The company also owns C.O. Bigelow, La Senza, White Barn Candle Co., Henri Bendel and Diva London.