Sun Capital, Golden Gate to buy Eddie Bauer

Redmond, Wash. – Eddie Bauer will be acquired by a holding company controlled by Sun Capital Partners and Golden Gate Capital for a transaction in cash and debt assumption totaling approximately $614 million.

The sale is the culmination of an exploration of strategic alternatives initiated by Eddie Bauer this past May and is expected to close in the first quarter of 2007. The three firms expressed confidence that their combined experience in retail, catalogs and fashion marketing would provide new success for the brand.

Among Sun Capital's current affiliated portfolio companies are Mervyn's, ShopKo Stores, Lillian Vernon, Marsh Supermarkets, Anchor Blue Retail Group, Dim Branded Apparel, and Most. Among Golden Gate Capital's current investments is Catalog Holdings, a $1.1 billion revenue direct marketer of women's apparel whose brands include Spiegel, Newport News, Appleseed's, Norm Thompson, Drapers and Damons, Venus, and Haband, among other titles. Other consumer products investments include Herbalife, Eye Care Centers of America, Neways, and Leiner Health Products.

In soft home, Eddie Bauer home textiles are produced by JLA via a licensing agreement.

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