Designer jeans company True Religion Apparel has agreed to be acquired by investment firm TowerBrook Capital Partners for $835 million.
Under the terms of the deal, True Religion shareholders will receive $32 per share. The company, known for its high-end jeans with intricate stitching and patterns that include crystals, has lost customers and revenue recently as it has been slow to adapt to trends such as skinny jeans, instead continuing to push its wider bottoms.
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