Gap Inc. (NYSE: GPS) has acquired Intermix Holdco Inc., a luxury women’s retailer for $130 million in cash.
New York-based Intermix sells a mix of luxury brands and up-and-coming designers through 32 boutiques across North America. Gap seeks to expand the brand’s network of stores and enhance Intermix’s website.
Gap owns retailers Banana Republic, Old Navy, Piperlime and Athleta. The deal closed on Dec. 31, ending a year stocked with retail M&A. In December, Delta Galil USA agreed to acquire sock-maker LittleMissMatched. Private equity firm Leonard Green & Partners LP purchased a 25 percent stake in retail chain Topshop from British billionaire Philip Green for $805 million. . In October, PVH Corp. (NYSE: PVH) acquired Warnaco Group Inc. (NYSE: WRC), which gave the buyer the rest of the Calvin Klein brand, in addition to Speedo, Body Nancy Ganz/Bodyslimmers, Warner’s and Olga.
For more on retail M&A, see “Retail M&A: Time-Tested Brands Sell.”