Vince Holding (VNCE) shares surged 71% in after-hours activity Wednesday after P180 acquired a majority stake in the company from Sun Capital Partners affiliates.
Vince said Brendan Hoffman will become its new CEO on Feb. 3, taking over from Interim CEO David Stefko, who will remain on the board.
Vince subsidiary V Opco also amended its credit agreement with Bank of America to accommodate the change in control, the company said.
Post-acquisition, P180 holds 65% of Vince Holding's shares, while Sun Capital affiliates own about 2%.
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