Private equity firm Leonard Green & Partners LP has reportedly purchased a 25 percent stake in the Topshop retail chain from British billionaire Philip Green for $805 million.

Leonard Green, which sold off David’s Bridal to Clayton Dubilier and Rice this year, co-owns retailer J. Crew. 

The Los Angeles firm also owns the Container Store Inc., Equinox Fitness and Neiman Marcus Group Inc.

Fashion company Topshop is owned by Arcadia Group, which Green owns. Arcadia, which had amassed about £445 million ($716.5 million) in debt as of Dec. 4, is now debt free as a result of the transaction, Green says in a statement.

The transaction adds to the flurry of recent deals within the retail sector. In addition to the David’s Bridal deal, Fast Retailing Co. Ltd. announced it would acquire a majority stake in denim retailer J Brand Holdings LLC in November, Versa Capital acquired Eastern Mountain Sports and Apax purchased Cole Haan

For more on the retail sector, see “Retail M&A: Time-Tested Brands Sell.” 

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