Deb Shops Sold
New York–based DSI Holdings Inc., an affiliate of Lee Equity Partners LLC, has acquired Philadelphia-based retail chain Deb Shops Inc. in a deal worth approximately $395 million. Allen Questrom, senior advisor of Lee Equity Partners, is expected to serve as non-executive chairman of the retail chain. Marvin Rounick, president and chief executive officer of Deb Shops, and Deb’s executive vice president, Warren Weiner, will both provide consulting to the company for three years after the deal closes. The acquisition nets Lee Equity 337 stores in 42 states under the nameplates Deb and Tops ’N Bottoms. Deb Shops stores carry apparel, shoes and accessories for juniors in regular and plus sizes.
