California-based denim label Paige announced this week that investment firm Lion Capital acquired a majority stake in the company on September 14 from TSG Consumer Partners. The details of the transaction have not been disclosed.
Paige hired UBS in 2015 to explore a sale of the company that was expected to be valued at $400 million. Lion Capital’s purchase makes Paige one of many fashion labels and companies that the firm has invested in, including American Apparel, Jimmy Choo, John Varvatos, AllSaints, Alex and Ani and Buscemi among others.
Prior to the investment, Paige opened new retail locations in Brentwood in Los Angeles, Malibu Country Mart, and Austin, TX. The new stores increase the label’s number of retail locations to 8, joining stores in New York City, San Francisco, and Los Angeles.