Loehmann's New Owner
A United Arab Emirates–based investment house has acquired discount retail chain Loehmann’s from Atlanta-based private equity firm Arcapita Inc. for approximately $300 million. Arcapita has owned Loehmann’s since late 2004, when it bought the 85-year-old retailer for about $178 million. Istithmar PJSC was founded in 2003 and focuses on private equity, real estate and other investments.
