Liz Claiborne Shopping Mexx
Powerhouse apparel company Liz Claiborne Inc. reportedly is talking with private-equity firms about selling its Mexx brand. Mexx is Liz Claiborne’s largest division and accounts for about one-third of its revenues. Mexx was bought by Liz Claiborne in 2001 for $264 million.
Firms said to be interested in a deal include Leonard Green & Partners in Los Angeles; Sun Capital Partners in Boca Raton, Fla.; and Golden Gate Capital in San Francisco. According to press reports, bids are due in the next few weeks, and a deal is hoped to be wrapped up by September, with Mexx selling for around #8232;$100 million.
