Irvine-based women’s clothing maker St. John Knits International Inc. reportedly is on the sales block.
Vestar Capital Partners, a New York private equity firm that bought St. John 13 years ago, is shopping for a buyer, Women’s Wear Daily reported.
A spokeswoman for St. John directed inquiries to a Vestar spokesperson, who declined comment.
Vestar, along with then-Chief Executive and co-founder Robert E. Gray and the Gray family, paid $522 million for the company in 1999. The deal gave Vestar a majority stake in the company. St. John previously had been owned by German fashion group Escada AG, which took the company public in 1993.
St. John is known for its knitwear that’s sold internationally in stores such as Neiman Marcus and Saks Fifth Avenue in addition to 27 company-owned stores.
—Kari Hamanaka
