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JCPenney boosts apparel position with Claiborne deal
PLANO, Texas — JCPenney Co. said Wednesday it will acquire the worldwide rights for the Liz Claiborne family of brands, as well as the United States and Puerto Rico rights for the Monet brand for $267.5 million.
The company has been the exclusive licensee for all Liz Claiborne and Claiborne-branded merchandise in the United States and Puerto Rico since August 2010.
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99 Cents Only in $1.6 billion buyout
Commerce, Calif. -- Discounter 99 Cents Only Stores said Tuesday it has agreed to be acquired by a group of investors including its founding family, Ares Management and Canadian Pension Plan Investment Board for $1.6 billion in cash.
The announcement ends a months-long sales process, which started with a takeover offer from Leonard Green & Partners in March.