From J.Crew’s high-end, limited-edition collection.

On November 23, 2010, J. Crew announced that it has entered into a definitive agreement to be acquired by funds affiliated with TPG Capital and Leonard Green & Partners. Under the terms of the agreement, holders of the outstanding common shares of J.Crew will receive $43.50 per share in cash, or a total of approximately $3.0 billion. The price represents a premium of 29% to J.Crew’s average closing share price over the last month.

Millard Drexler, J.Crew Chairman and CEO, said, “I am pleased to announce this agreement as it delivers significant value to our shareholders. In addition, it is a clear endorsement of J.Crew and of the hard work and commitment of each and every one of our associates. As I have always said, we are in this for the long term and we do what we do day in and day out so we can deliver the best possible products to our customers. TPG Capital, with whom we have a long working relationship, along with Leonard Green & Partners, are both well respected private investment firms whose substantial resources and experience will enable us to invest in our future growth. I am excited to be partnering with TPG Capital and Leonard Green & Partners on this transaction and that our management team, including our President Jenna Lyons, will continue to work towards our future.”

J. Crew has been riding the wave of classic Americana and prep coming back into vogue over the last several years. And with no signs of this trend fading yet, J.Crew has tapped into a gold mine in fashion for youth culture. However another interesting aspect of this classic brand is their edgy, limited-edition collection featuring more high-end looks, including sequins, bright neon colors, satin fabrics, mohair, chic mini’s, vests, and an interesting mix of metallics. While the brand isn’t necessarily known for such things, this select collection offers up a new way of looking at the brand and how classics such as a button down can be paired with a tinsel mini skirt and matching socks with heels for a unique holiday look.

Overall, it’s impressive what J. Crew has accomplished, and with news of their recent acquisition and plans for greater international expansion, there will be even more of a reason to watch this brand/retailer in the near future.