By and  on June 2, 2011

The Jones Group Inc.’s hands-across-the-water acquisition of U.K. footwear brand Kurt Geiger strengthens both companies’ global footprints and gives the buyer serious clout in the luxury sector.

Jones closed on the acquisition early Thursday, paying $350 million in cash, inclusive of debt, to U.K.-based private equity firm Graphite Capital and to members of the firm’s management who held minority stakes.

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