TowerBrook to acquire 250-store J. Jill

New York -- Investment firm TowerBrook Capital Partners is acquiring women’s apparel retailer J. Jill, which operates some 250 stores nationwide. TowerBrook is buying the company from Investment firm Arcapita and private equity firm Golden Gate Capital.



In a statement, J. Jill CEO Paula Bennett noted that the retailer has just completed its best sales year in history and 12 quarters of consecutive growth.



“We are delighted to partner with TowerBrook,” said Bennett who will remain in her current role. “Their investment in J. Jill provides support for future development and the ability to maximize our potential as a brand and business. We have a shared vision to capitalize on our understanding of our customer and the strength of our omnichannel business.”



The deal, whose financial terms were not disclosed, is expected to close in second quarter 2015.



TowerBrook has a diverse portfolio that includes a hockey team, an aircraft interior designer and the upscale denim brand True Religion.