Co-Founders Buy Back Prana

Lunan, Charlie
March 2008
SGB;Mar2008, Vol. 41 Issue 3, p11
Trade Publication
The article reports that Beaver Theodosakis and other co-founders of the apparel company Prana are taking back the company from Liz Claiborne Inc., with the help from private equity firm Steelpoint Capital Partners. Prana was acquired by Claiborne for $34.4 million in November 2005. But just five months after the deal, Claiborne appointed a CEO who promptly ordered a review of 16 of the company's 36 brands in the wake of declining department store sales.


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