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Apax to Buy Rue21 for $1.1B

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Private equity firms have been on a hot streak in retail recently, and this deal is no exception. Apax will pay about 20 times the retailer's projected earnings for the next 12 months, according to a report from Reuters. Apax already owns a 30 percent stake in Rue21 from previous investments.

The retailer plans to open its 1,000th store in 2013, and has an eventual goal of a 1,700-store portfolio.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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