Sun Capital extends offer for remaining 10 percent of Kellwood shares

Sun Capital Securities Group LLC this morning announced that it has acquired commitments for 90 percent of the shares of Kellwood Co.

The private equity investment group said it is offering the same $21 a share offer to the holders of the remaining 10 percent and has set a midnight Friday deadline for them to tender their shares.

As of midnight Tuesday, shareholders of the Town and Country-based clothing maker and marketer had tendered 15.8 million shares to Sun Capital, representing 70.5 percent of the outstanding shares.

Sun Capital, which already controlled 11.4 percent of the company shares, said it also received commitments for shares to be tendered over the next three days that would bring its stake to 90 percent.

After the midnight Friday deadline, Kellwood will be merged into Cardinal Integrated LLC, a Sun Capital affiliate, and operate as a subsidiary of Cardinal Integrated.