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Sun Capital Closes on Limited

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un Capital Partners Inc. said Friday that it has completed the acquisition of the Limited chain of stores and has named the retailer's co-presidents to top management positions.

The deal finalizes Limited Brands Inc.'s exit from the Limited and Express apparel businesses to focus on lingerie and body care.

Sun Capital didn't disclose a purchase price, but Limited Brands said last month that it would book a $42 million after-tax loss tied to the sale of 75% of the business. Sun Capital said then that it would sink $50 million directly into the business and arrange for a $75 million line of credit to support the 260 stores in 42 states.

The women's apparel retailer will keep its Columbus, Ohio, headquarters. Linda Heasley was named chief executive and chairman of the stores, while Avra Myers takes on the titles of president and general merchandise manager.

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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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