Nearly 10 months after the potential marriage was first reported, an agreement between Galyan’s current sole parent, The Limited, and the Los Angeles-based investment house is finally reached. The deal is scheduled to close in Jun. or Jul. The Limited will receive $190 million, a good portion of that evidently from the sale-leasebacks of Galyan’s locations built by Limited.

Galyan’s management and Freeman Spogli, which had a similar buyout arrangement with The Limited for clothier Brylane years ago, will assume a 60 per cent ownership stake ... Log in to view full article.