Sun Capital Submits Bid to Buy Kellwood

Boca Raton, Fla.–based private investment firm Sun Capital Securities Group LLC has offered an unsolicited bid to buy all outstanding shares of St. Louis–based manufacturing giant Kellwood Co. for $21 per share.

The offer is subject to a number of proposals, including completion of due diligence. Kellwood issued a statement saying its board of directors will consider Sun Capital’s proposal as well as “other alternatives available to the company.”

Kellwood’s brands include Vince, Baby Phat, Koret, Hollywould, Democracy, Sag Harbor and Phat Farm. The company’s licensed brands include Calvin Klein, O Oscar, XOXO, David Meister and Liz Claiborne dresses and suits.

Sun Capital Securities is an affiliate of Sun Capital Partners Inc., which specializes in leveraged buyouts. The company is based in Florida and maintains offices in New York, Los Angeles, London, and Shenzhen, China.

According to the company, the firm has approximately $10 billion of equity capital under management, and its affiliates have invested in more than 160 companies worldwide since 1965, when Sun Capital was founded. —Alison A. Nieder