London -- Online sales club Privalia Venta Directa, S.L. said Monday it will acquire Dress for Less, a German online fashion retailer, from Palamon Capital Partners, a pan-European private equity firm.
The acquisition will be funded through a combination of $123 million of new equity provided by equity firms General Atlantic, Highland Capital Partners, Index Ventures and Insight Venture Partners.
Dress for Less founders Mirco Schultis and Holger Hengstler will become significant shareholders in Privalia.
