Draper’s & Damon’s Inc., an Irvine-based seller of dresses for baby boomer women, is being acquired by San Francisco private equity firm Golden Gate Capital LP for undisclosed terms.
The company, which runs stores, a catalog and Web site, has estimated yearly sales of about $140 million.
Draper’s & Damon’s runs about 45 stores with plans to add more.
Brothers Brad and Jeff Farmer and cousin Brent Bostwick run Draper’s & Damon’s. All are great-nephews of Virginia (Farmer) Draper, who opened the company’s first store in Pasadena in 1927.
Golden Gate Capital also acquired clothing retailer Appleseed’s Inc. of Beverly, Mass., on Wednesday. The investment firm already owns the Spiegel catalog and Virginia’s Newport News Inc.
Earlier this year, Golden Gate bought the Irvine-based chip unit of Japan’s TDK Corp. for undisclosed terms. The unit now goes by Teridian Semiconductor Corp.
