Reported about 22 hours ago
SPARC Group, which operates several fashion brands including Lucky and Forever 21, has merged with JCPenney to establish a new entity named Catalyst Brands. This joint venture involves an all-equity transaction and will be led by former JCPenney CEO Marc Rosen, combining for approximately $9 billion in revenue and 1,800 store locations. Catalyst is also exploring strategic options for Forever 21's operations and has recently sold its U.S. Reebok business.
Source: YAHOO