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Leonard Green & Partners unit to buy Juicy Couture for $195 million
New York -- Fifth & Pacific Cos., formerly known as Liz Claiborne, agreed to sell its Juicy Couture brand to Authentic Brands Group for $195 million, according to various reports.
"This decision is the result of a process we began last year—studying our resource allocation needs, our capital structure, and the operating risks and opportunities associated with a three-brand portfolio while still maximizing shareholder value," said William McComb, CEO of Fifth & Pacific, in a statement.