Sun Capital Announces Acquisition of Kellwood

  
    
  
  
    
      Sun Capital Securities Group, LLC today announced the successful 
      completion of the acquisition of Kellwood Company (NYSE: KWD) for 
      approximately $767 million, including the assumption of Kellwood’s 
      net debt. The transaction was consummated through a cash tender offer by 
      Cardinal Integrated, LLC, a wholly-owned subsidiary of Sun Capital, 
      followed by a short-form merger of a subsidiary of Cardinal Integrated 
      with and into Kellwood. As a result of this acquisition, Kellwood 
      becomes a wholly-owned subsidiary of Cardinal Integrated.
    
    
      Jason Bernzweig, Vice President of Sun Capital, said “We 
      are pleased to announce the successful completion of Sun Capital’s 
      acquisition of Kellwood. We are eager to continue fostering our 
      relationship with Kellwood’s management and 
      employees and complete a smooth transition process, which is already 
      underway.”
    
    
      At the time of the merger, all outstanding shares of Kellwood common 
      stock not validly tendered and accepted for payment in the tender offer 
      were converted, subject to appraisal rights, into the right to receive 
      $21.00 per share in cash (the same price paid in the tender offer). The 
      paying agent for the merger will mail to the remaining former 
      shareholders of Kellwood materials necessary to exchange their former 
      Kellwood shares for such payment. As a result of the merger, Kellwood’s 
      common stock will be delisted and will cease to trade on the New York 
      Stock Exchange.
    
    
      About Sun Capital
    
    
      Sun Capital Partners, Inc. is a leading private investment firm focused 
      on leveraged buyouts, equity, debt, and other investments in 
      market-leading companies that can benefit from its in-house operating 
      professionals and experience. Sun Capital affiliates have invested in 
      and managed more than 180 companies worldwide with combined sales in 
      excess of $35.0 billion since Sun Capital's inception in 1995. Sun 
      Capital has offices in Boca Raton, Los Angeles, and New York, and 
      affiliates with offices in London, Tokyo, and Shenzhen.