COLUMBUS, OH-Private-equity firm Sun Capital Partners is getting a 75% interest in the Limited Stores chain from parent Limited Brands in a deal where it will contribute $50 million of capital into the business and arrange for a $75 million credit facility. Limited Brands is not receiving cash for the 260-unit chain.

The deal comes as Limited closes its sale of 75% of its 624-store Express chain to Golden Gate Capital for $602 million. Limited is selling the chains to concentrate more on its intimate-wear and personal-care outfits, Victoria’s Secret and Bath & Body Works.

Sun Capital management says it plans to grow the Limited chain. Limited Stores’ same-store sales rose 5% in May year over year, after sliding 6% in April. Express was up 9% in April and increased 4% in May.

Sun Capital, based in Boca Raton, FL, is no stranger to retail acquisitions. It owns interests in discounters Mervyns and ShopKo, Marsh Supermarkets and restaurant chains Fazoli’s, Garden Fresh and Real Mex.

Limited Stores will remain headquartered locally, which is the same home base of Limited Brands. Sun Capital’s management also has no plans to change the chain’s name.

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