Private equity firm Sycamore Partners completed the acquisition of Fort Myers-based women’s clothing company Chico’s FAS Inc. for $7.60 per share, in an all-cash transaction valued at approximately $1 billion, company officials said. With the completion of the transaction, Chico’s FAS shares of common stock have ceased trading and are no longer listed on the New York Stock Exchange. The fashion company founded in 1983 on Sanibel Island has three brands—Chico’s, White House Black Market and Soma—and operates 1,256 stores in the U.S. and sells merchandise through 58 international franchise locations in Mexico and through two domestic franchise locations in airports. New York-based Sycamore Partners specializes in retail, consumer and distribution-related investments and has approximately $10 billion in aggregate committed capital raised since its inception in 2011.
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