Simon Property Group Buys Yet Another Retailer
Mall operator Simon Property Group (NYSE: SPG) and brand management partner Authentic Brands Group are opening their wallets to buy another retailer, this time outdoor apparel company Eddie Bauer.
Unlike other recent purchases of their SPARC Group joint venture, however, it wasn't immediately apparent that Eddie Bauer was distressed or bankrupt, as it has been owned for the past 16 years by private equity firm Golden Gate Capital.
Since financial details were not disclosed, it's not known how much SPARC paid for the retailer. The purchase represents some sector diversity for the JV, but more risk, too.
Source Fool.com
