Deal Watch: lucy activewear sells

| Print |  Email
Archives - September 2007
Saturday, September 01, 2007
lucy.jpg

Competition is stiff in the apparel business and longtime players are rethinking their product lines. Which is why VF of Greensboro, N.C., paid $110 million to acquire Portland-based women’s activewear brand lucy. 

After fighting its way back from its own dot-com bust, lucy built a street-side business featuring its line of figure-flattering activewear worth $57 million in sales last year.

Lucy joins hipster jeans-maker Seven for All Mankind, which VF arranged to pick up at the same time for $775 million, in a new VF “coalition” (apparently the term “division” is passé) of contemporary brands. VF’s other coaltions include outdoor (including brands such as Northface and Eastpak), sportswear (Nautilus) and jeanswear (Lee and Wrangler). VF’s acquisitions allow it to go after a higher-end consumer; contemporary is another word for someone willing to drop $200 on a pair of jeans and $150 on the perfect yoga outfit.

The lucy deal comes on the heels of the $175 million acquisition of Portland’s chi-chi kidswear brand Hanna Andersson by St. Louis-based Kellwood Company, announced in June. In both cases, the new owners are expected to keep their mitts off day-to-day operations (at least for now) and let the brands continue their expansions. Lucy has 50 retail stores and counting and Hanna has 18 with more on the drawing board. 

Retail analyst Jennifer Black of Jennifer Black and Associates in Lake Oswego says competition has squeezed vendors such as Kellwood, which used to specialize in the in-store private label lines that have fallen out of favor. Both Hanna and lucy, with their upscale devotees, growing number of stores and sizable revenue, made juicy acquisition targets.

If girl-name apparel acquisitions, like celebrity deaths, happen in threes, we’ve got one more to go.                   

CHRISTINA WILLIAMS

REAL ESTATE TRANSACTIONS
ANNOUNCED BUYER/PARENT (HQ) REAL ESTATE (LOCATION) / SELLER (HQ) PRICE
26-Jun Westport Capital Partners LLC (CT) The Harrison – Condo Conversion Mezzanine Loan (Portland) ND




27-Jun Bill Carpenter and Charles Howard office bldg. (Sandy) / Noble Dev. Company IV; Herbert D. McKillop $7.7m




27-Jun HAG Holdings; EZS; Morrison St. Prtn. Irwin Paul Building (Portland) / Irwin Leitgeb $2.1m




29-Jun Equastone (CA) AmberGlen Business Park (Hillsboro) / The Praedium Group (NY) $67.92m




2-Jul ScanlanKemperBard (Portland) 2 retail properties (CA) / Pacific Union Development $94.75m




3-Jul Phillips Edison & Co. (MD) Powell Villa (Portland) ND




6-Jul CalPERS (CA) KOIN Center (Portland) $108m




9-Jul ATC Partners LLC (CA) Paulson Building (Portland) / Runhill Investment Co. $9.2m




9-Jul Charles Padot Canyon Ridge apartment complex (Newberg) / Viking Properties $4m




9-Jul D&S McIntyre Living Trust (CA) Oak Leaf Manor (Portland) / Linda D. Frye Revocable Living Trust & Barry Stuffs (CA) $2.85m




11-Jul DLJ Real Estate Capital Partners/ Credit Suisse Hilton Garden Inn (Lake Oswego) / Sunstone Hotel Investors $150.5m




11-Jul David McIntyre and Sally McIntyre Oak Leaf Manor Apartments (Portland) / Linda Frye, Barry Stubbs $2.85m




12-Jul DP Partners (NV) 13.5 acres (Portland)/ Portland Development Commission ND




17-Jul Guardian Management LLC (Portland) 2 apartment bldgs. (AZ) ND




18-Jul Gresham Funeral Chapel (Gresham) office bldg. (Gresham)/ Parkside Chapel $1.34m




23-Jul SHLP Block 46 LLC (Denver)/ Simpson Housing LLP Block 46 (Portland)/ Williams and Dame Development ND




25-Jul The Bennett Family Trust (Bend) industrial bldg. (Portland)/ Weston William McGaa Irr. Trust $2m




25-Jul The Salvation Army (Portland) Monterey Plaza office bldg. (Portland) $7.4m




26-Jul JPMorgan Asset Management Brewery Blocks (Portland)/ Gerding Edlen Development $292m


MERGERS AND ACQUISITIONS
ANNOUNCED EXP. CLOSE BUYER/PARENT (HQ) SELLER (HQ) / PARENT PRICE (TERMS)
29-Jun Q1 '08 Nautilus (Vancouver, WA) Land America Health and Fitness (China) $72m





2-Jul ND Standard Retirement Services (Portland)/ StanCorp Financial Group Inc. MasterPlan Advisors (Portland)/ DPA ND





2-Jul Q3 '07 The Papé Group (Eugene) Central California Kenworth (CA) ND





3-Jul Q3 '07 Northwest Pipe Company (Portland) Continental Pipe Manufacturing Co. (UT) ND (cash)





3-Jul Q3 '07 Domestica LLC (Portland) Sister Suds Cleaning Co. (Portland) ND





5-Jul Q3 '07 Electro Scientific Industries (Portland) New Wave Research (CA) $36m





9-Jul Q3 '07 Redwood Empire division (CA)/ Pacific States Industries, Inc. plywood mill (Springfield)/ Weyerhaeuser Co. ND





12-Jul Q3 '07 Trelleborg Sealing Solutions (Sweden)/ Trelleborg AFM (Portland) ND





13-Jul Q3 '07 Market Strategies (MI) Doxus (Portland) ND





20-Jul Q3 '07 Basic American Foods (CA) Harry's Fresh Foods (Portland) ND





24-Jul Q4 '07 New Vision Television (CA) KOIN6 (Portland)/ Montecito Broadcast Grp. ND





26-Jul Q3 '07 VF Corp. (NC) Lucy Activewear (Portland) $110m


CAPITAL RAISING
ANNOUNCED COMPANY (HQ) / LEADERSHIP INVESTOR PRICE (TERMS)
10-Jul Oregon Health & Science University (Portland) Harold & Arlene Schnitzer Care Foundation $5.5m (donation)




17-Jul Pacific Star Comm. (Portland)/ Robert Frisbee, CEO Chart Venture Partners; Steelpoint Capital Prt. $12.3m (series D)




23-Jul Teseda Corporation (Portland)/ Armagan Akar, CEO INTER ACTION $1.2m

List researched by Mark Druskoff                   ND=Not disclosed


Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

More Articles

Fighting Fire With Fire

May 2015
Friday, April 24, 2015
BY BEN DEJARNETTE | INVESTIGATEWEST

Timber companies and environmental groups take a stab at collaboration to boost logging and restoration in Oregon fires.


Read more...

Can small be large?

Linda Baker
Wednesday, April 01, 2015
040115-lindablogthumbBY LINDA BAKER

Leaders in Oregon's ag sector gathered this morning in Portland’s Coopers Hall winery/taproom to discuss the role of the region as an export gateway, impediments to exporting products and solutions to containerized shipping challenges.


Read more...

3 trends in the garden business

The Latest
Thursday, April 30, 2015
gardenthumbBY JACOB PALMER | DIGITAL NEWS EDITOR

Oregonians are scrambling to get their gardens in order for the summer. Here are three tips from landscaping and urban farming expert.


Read more...

5 questions for inDinero CEO Jessica Mah

The Latest
Tuesday, March 31, 2015
jessicathumbBY JACOB PALMER | DIGITAL NEWS EDITOR

inDinero, a business that manages back-office accounting for startups and smaller companies, recently announced it would relocate its headquarters from San Francisco to Portland. We talked to CEO Jessica Mah about what drew her to Portland and how she plans to disrupt the traditional CPA model.


Read more...

It's a Man's Man's Man's World

May 2015
Friday, April 24, 2015
BY AMY MILSHTEIN

Male tech workers speak out on the industry's gender troubles.


Read more...

Man for All Seasons

May 2015
Monday, April 27, 2015
BY LINDA BAKER

A longtime technologist and entrepreneur, Dwayne Johnson, 53, is managing partner of PDXO/GlobeThree Ventures, a strategy and business consultancy in Portland.


Read more...

5 ways successful people kickstart the day

The Latest
Thursday, April 02, 2015
coffeethumbBY JACOB PALMER | DIGITAL NEWS EDITOR

Are mornings the most productive part of the day?  We ask five successful executives how they get off to a good start.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS