Preppy retailer J. McLaughlin, which operates a store on Lexington between 72nd and 73rd, announced today that it has sold a majority share to a private equity sponsor group led by JH Partners and the Highland Consumer Fund.
Writes PR Newswire:
The existing management team, which includes co-founders and brothers Jay McLaughlin and Kevin McLaughlin, as well as Steven Siegler, CEO, will continue in its current role and will retain a minority interest in the business moving forward.
“J.McLaughlin’s niche is American prep, rooted in a strong understanding of the history of American sportswear,” said Kevin McLaughlin. “We are committed to maintaining the brand’s connection to its customers and to providing the compelling merchandise and one-of-a-kind in-store experiences J.McLaughlin is best known for,” said Jay McLaughlin.
JH Partners and the Highland Consumer Fund are reputed for their successful investments in growth companies and for helping management teams build iconic brands. JH Partners’ historic investments in international brands include Bare Escentuals, Frette, La Perla and Jurlique. The Highland Consumer Fund team has investments in such companies as City Sports, Lululemon and Pinkberry.