ASI Holdco, the parent of Ashley Stewart, has agreed to sell a majority stake in the plus-size fashion brand to Kinbow, an affiliate of investment firm RA Capital.

The company did not disclose the financial details of the deal but expects to settle the transaction at the end of this month.

As part of the agreement, Kinbow will continue to operate all of Ashley Stewart’s brick-and-mortar stores and e-commerce business in their current form.

“As an accomplished apparel and accessories manufacturer with proven experience in developing quality affordable fashion, we expect to continue the heritage of the Ashley Stewart brand and look for opportunities to expand the on-trend fashion offerings that the company’s loyal customers have come to expect,” said Ram Ajjarapu, executive director of Kinbow.

The transaction is subject to the negotiation and execution of definitive documentation and conditions to closing. 

Founded in 1991, Ashley Stewart offers clothing for women sizes 10 to 36 at 75 stores across the US and online.

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