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Gap to sell Intermix clothing chain to private equity firm.

NEW YORK (AP) — Gap Inc. has signed a deal to sell the upscale clothing chain Intermix to private equity firm Altamont Capital Partners. Gap said Tuesday that Altamont Capital intends to acquire the entire Intermix business, including all store leases, e-commerce and assets. It didn’t disclose the purchase price. The move comes as Gap is trying to slim down its portfolio of brands to better focus on its namesake business as well as Old Navy, Banana Republic and Athleta. Last month, Gap completed a deal to sell Janie and Jack, a children’s clothing chain to Go Global Retail, a company that invests in fashion and consumer brands.

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Associated Press

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