A private equity firm said on Tuesday that it would buy retailer J.Jill, which specializes in casual women's fashion, shoes and accessories.
TowerBrook Capital Partners, based in New York and London, will take over the fashion company from investment firm Arcapita and private equity firm Golden Gate Capital. Financial terms were not disclosed.
J.Jill, based in Quincy, Mass., has more than 250 stores nationwide, including 26 in California.
Chief Executive Paula Bennett, who will remain in her role, said J.Jill just completed its best sales year in history and had 12 quarters of consecutive growth.
“We are delighted to partner with TowerBrook," she said in a statement. "Their investment in J.Jill provides support for future development and the ability to maximize our potential as a brand and business."
The deal is expected to close in the second quarter.
TowerBrook owns a number of companies, including BevMo and designer jeans retailer True Religion, which is based in Vernon.
For more business news, follow @smasunaga