Department store JCPenney merges with Sparc Group
The department store chain is teaming up with the Sparc Group in an all-equity merger to form Catalyst Brands, the Wall Street Journal reported. The company will be led by Marc Rosen, who most recently served as the chief executive officer of JCPenney. It will be based in Plano, Texas, where JCPenney is headquartered.
The new entity features other labels owned by Authentic Brands Group and run by Sparc Group. Investors include Shein and mall ...
The department store chain said that the all-equity merger brings its banner and various exclusive private brands under the ...
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