Report: Ann Inc. working with JPMorgan on sale

New York – Ann Inc., parent of Ann Taylor and Loft. is reportedly working with financial firm JPMorgan Chase & Co. on a potential sale. According to Bloomberg, the $1.6 billion Ann Inc. has spoken with other retail chains and at least two buyout firms and a private equity firm.



Ann Inc. stated in an October 2014 financial filing it would consider strategic options. Rumors have been circulating that Ann Inc. has been considering a sale since at least August 2014, when media reports indicated the company had been in touch with JPMorgan. That same month, investors Engine Capital LP and Red Alder LLC publicly supported a buyout.



In October 2014, Ann Inc. disclosed it had entered into a confidentiality agreement with Golden Gate Capital, which owns a 9.5% stake in the company, to share non-public information. It is unclear whether Golden Gate may be considering a buyout offer.