Greenwich firm buys stake in Tory Burch L.L.C.
A Greenwich private equity firm and a Chicago investment house recently purchased about half of Chris Burch’s 28.3 percent stake in retailer Tory Burch L.L.C., founded and run by Burch’s ex-wife, according to reports.
Burch reportedly sold the stake, which he had held through JCB Investments L.L.C., to Greenwich-based General Atlantic L.L.C. and Chicago-based BDT Capital Partners L.L.C., with the transaction completed Dec. 31, Bloomberg News reported.
Citing people with knowledge of the transaction, Bloomberg News reported the sale values Tory Burch L.L.C. at about $3.3 billion. Burch himself reportedly retains about a 15 percent stake.
Tory Burch, CEO of the luxury clothing brand, said in Jan. 1 statement, “We are thrilled to have BDT Capital Partners and General Atlantic join us as partners. They are completely aligned with our long-term approach to building our brand and share our vision for growth globally.”