Perry Ellis to Buy Rafaella from Cerberus Capital

Perry Ellis International Inc. will pay roughly $70 million to buy Rafaella Apparel Group from private equity firm Cerberus Capital Management, Reuters reported. The deal is expected to close by the end of January. Rafaella, which sells its sportswear and workwear in department stores, had revenues of roughly $122 million for the trailing 12-month period ended Sept. 30, Reuters wrote.

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