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Jo-Ann Stores Incorporated

L.A. private-equity firm to buy Lucky Brand Jeans for $225 million

L.A. private-equity firm to buy Lucky Brand Jeans for $225 million

Lucky Brand Jeans is coming home again.

Los Angeles private-equity firm Leonard Green & Partners has agreed to pay $225 million to acquire Lucky from New York fashion company Fifth & Pacific Cos.

The acquisition means that Lucky, founded in Vernon in 1990 and moved last year to a 1940s Art Deco building in downtown Los Angeles, will be locally owned once again.

Denim veterans and Lucky co-founders Gene Montesano and Barry Perlman used clever marketing — including the "Lucky You" label stitched into the fly — to create one of the country's most popular mid-level denim jeans.

The company was sold in 1999 to Liz Claiborne Inc. in New...

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