By Olivia Oran and Greg Roumeliotis
(Reuters) - Private equity firm TowerBrook Capital Partners is in advanced talks to acquire women's retailer J. Jill, according to two people familiar with the matter.
A deal is likely to be valued at more than $400 million and could be announced as early as next week, the people said, cautioning that negotiations have not yet been finalised. The people asked not to be named because the matter is private.
Private equity firm Golden Gate acquired J. Jill for around $75 million in 2009 from women's retailer Talbots. Golden Gate later sold a majority stake in the business to Bahrain-based Arcapita Bank.
J. Jill, Arcapita Bank and Golden Gate could not be immediately reached for comment. TowerBrook declined to comment.
Based in Quincy, Massachusetts, J. Jill operates more than 225 stores across the U.S and sells apparel, accessories and footwear catering to women over 45 years old.
New York-based TowerBrook owns premium denim company True Religion Apparel Inc and previously invested in high end shoe company Jimmy Choo PLC (L:CHOO).