Sale of J. Jill Assets to Golden Gate Capital Completed

QUINCY, MA (July 2, 2009) – Golden Gate Capital announced today that it has completed its acquisition of the J. Jill brand business from The Talbots, Inc.
As part of the terms of the Asset Purchase Agreement, identified assets associated with the J. Jill brand business were acquired by Jill Acquisition LLC, including 205 J. Jill brand stores, the Tilton, NH distribution facility, intellectual property, accounts receivable and inventory related to the transferred stores, along with certain related liabilities. As part of the transaction, J. Jill will continue to be led by Paula Bennett, J. Jill brand President.

Paula Bennett commented, “My team and I are delighted to partner with Golden Gate Capital. They have an outstanding reputation for developing great multi-channel businesses and we look forward to working with them to maximize the potential of the J. Jill brand as an independent company.”

Over the last five years Golden Gate Capital has completed approximately 20 multi-channel retail acquisitions totaling in excess of $3.5 billion in annual revenues, including the acquisition of Express and various acquisitions through Orchard Brands, among others.

About J. Jill

J. Jill is a leading multi-channel retailer of woman’s apparel. Emphasizing a sophisticated casual lifestyle, J. Jill offers its merchandise through 205 stores across the United States, a website, and catalogs. Originally founded in 1959, J. Jill is headquartered in Quincy, Massachusetts. For additional information, visit

About Golden Gate Capital

Golden Gate Capital is a private equity firm with over $9.0 billion of assets under management dedicated to investing in change-intensive opportunities. The firm’s charter is to partner with world-class management teams to make equity investments in situations where there is a demonstrable opportunity to significantly enhance a company’s value. The principals of Golden Gate Capital have a long and successful history of investing with management partners across a wide range of industries and transaction types. For additional information, visit