Ascena Retail completes sale of Maurices

Ascena will continue to support Maurices on its shared business services platform through a managed services agreement, including support for IT, supply chain, sourcing and certain back office functions.

OpCapita is a sector-focused private equity firm that specializes in transforming operationally underperforming businesses in the retail, consumer and leisure sectors. The announcement follows the March 25, 2019 release in which Ascena announced it had entered into a definitive agreement to sell the Maurices business. (RR)

ALCHEMPro News Desk – India