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Goody’s Agrees to Acquisition


Knoxville, Tenn., Boca Raton, Fla.-based Sun Capital Partners will acquire the Knoxville, Tenn.-based apparel chain in a deal valued at $272.8 million. A Goody’s spokeswoman said it was clear that CEO and chairman Robert Goodfriend will leave the company, but unclear whether the remaining executive team would continue. The chain originated in Athens, Tenn., as the Athens Outlet Center. Also on Thursday, the company said it expected a third-quarter loss “significantly greater” than the 2? per share loss reported in the third quarter of 2004.

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