Jones Group Inc., owner of the Nine West and Jones New York fashion brands, said it’s selling itself to private-equity firm Sycamore Partners LLC for $15 a share.

That values the deal at $1.2 billion, or about $2.2 billion including debt, New York-based Jones said yesterday in a statement. The deal is expected to close in the second quarter of next year and will take the company private.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.