Chesterfield-based apparel manufacturer Kellwood Co. has been acquired by an unnamed Hong Kong investor group from Sun Capital Partners.
Terms of the deal, which closed Wednesday, weren’t disclosed. The acquisition includes women’s and junior’s apparel brands Devlin, Rewind, My Michelle, Jolt, Rewind, Democracy, Sangria, JAX and Briggs New York, a Sun Capital spokesman said. The sale also included an XOXO apparel license and Kellwood’s private label business, a spokeswoman for the buyer said.
Kellwood, with 2015 estimated revenue of $464 million, has its showrooms and most of its executives based in New York City and City of Industry, California, and its St. Louis office houses finance, accounting, legal and IT operations. About 150 of Kellwood’s total 1,000 employees are based in St. Louis, a spokeswoman for the Hong Kong group confirmed.
With the acquisition, Joe Lombardi, who has held Kellwood’s CEO post since January 2015, is leaving the company and David Falwell is returning to Kellwood as CEO. Falwell served as executive vice president of operations at Kellwood until 2013.
Read more: St. Louis Business Journal