Latham Pilots Leonard Green's $225M Lucky Brand Jeans Buy

Law360, New York (December 10, 2013, 1:13 PM EST) -- In an effort to focus solely on the Kate Spade label, Fifth & Pacific Cos. Inc. will sell Lucky Brand Jeans for $225 million to an affiliate of private equity firm Leonard Green & Partners LP, the retail holding company said Tuesday.

The price tag is more than seven times the brand's 12 month adjusted earnings before interest, taxes, depreciation and amortization, a calculation that considers the estimated cost of running the apparel company as a standalone business, F&P said.

The decision to sell off Lucky...
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