Six retail brands are now part of the new company, Catalyst Brands, which was formed by the merger of JCPenney and Sparc Group. With Simon Property Group, Brookfield Corporation, Authentic Brands Group, and SHEIN as shareholders, the combined group was created through an all-equity deal between JCPenney and Sparc Group.
According to a press statement from the firm, Catalyst Brands combines JCPenney and its exclusive private brands, such as Stafford, Arizona, and Liz Claiborne, with the Sparc Group’s Aéropostale, Brooks Brothers, Eddie Bauer, Lucky Brand, and Nautica.
At debut, the new company has 1,800 store locations, 60,000 workers, US $ 1 billion in liquidity, and over US $ 9 billion in revenue. Furthermore, Catalyst Brands has sold Reebok’s US operations and is looking into strategic alternatives for Forever 21’s activities.
Catalyst Brands has offices in New York, Los Angeles, and Seattle in addition to its headquarters at JCPenney’s present corporate site in Plano, Texas.
