JW Childs Associates, the Boston buyout firm focused on consumer products and retail, has agreed to acquire Joseph Abboud Group from RCS MediaGroup for $73 million (€57 million).
Joseph Abboud, with annual revenue of approximately $125 million, is comprised of JA Apparel, Riverside Manufacturing and Nashawena Mill. The three divisions were sold to JW Child’s platform company, JA Holding.
Founded in 1993, Joseph Abboud focuses on menswear, accessories and home furnishings. The company was advised by Goldman Sachs on the sale.
JW Childs currently has $3.4 billion under management, according to a statement.
The firm last year sold pet-food company Meow Mix to New York buyout firm, The Cypress Group, for $430 million, nearly double the price it had paid only 18 months earlier.
JW Childs was launched in 1995 by former Thomas H. Lee Partners investment professionals.