Jimmy Choo Sold to TowerBrook Capital

LONDON – Jimmy Choo has been sold to TowerBrook Capital Partners LP, an international
  private equity firm.<BR>
  <BR>
  The sale comes a little more than two years after Lion Capital, formerly Hicks
  Muse, acquired a majority stake in the company.<BR>
  <BR>
  Jimmy Choo, Lion Capital and TowerBrook said in a statement Sunday that the
  enterprise value of the deal was 185 million pounds, or $364.5 million at current
  exchange.<BR>
  <BR>
  The statement added that TowerBrook will be the majority owner of the company
  and that Gala Capital, the Spanish private equity firm, would be investing alongside
  TowerBrook. <BR>
  <BR>
  Tamara Mellon, president and founder of Jimmy Choo, will continue to have direct
  oversight of the accessories firm’s creative direction, image and promotional
  activities. She will continue to work with Sandra Choi, creative director of
  the company, and will remain a significant shareholder of Jimmy Choo.<BR>
  <BR>
  In July, WWD reported that Choi was planning not to renew her contract at Jimmy
  Choo. But that never happened, and industry sources said she later worked out
  a deal with company principals.<BR>
  <BR>
  ‘This new partnership will not only give us the ability to meet the growing
  demand for our range of products, but also achieve my original vision for Jimmy
  Choo to be one of the world’s most treasured luxury brands,’Mellon said.