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Golden Gate to Sell J. Jill Majority Stake to Arcapita Bank

Golden Gate Capital Corp., a private equity firm, agreed to sell a majority stake in the J. Jill clothing business to Arcapita Bank BSC, a Bahrain-based investment bank, less than two years after buying the company.

Golden Gate, based in San Francisco, will remain a minority shareholder in the company, according to a statement today. Terms of the deal weren’t disclosed. J. Jill President and Chief Executive Officer Paula Bennett will continue to lead the Quincy, Massachusetts-based retailer.