Lucky Brand Jeans’ corporate parent Fifth & Pacific Companies Inc. (formerly Liz Claiborne Inc.) announced yesterday that it has entered into an agreement to sell Lucky Brand to an affiliate of Leonard Green & Partners L.P., a Los Angeles-based private equity firm, for a total consideration of $225 million. As part of the deal, $140 million will be paid in cash at closing with the remaining $85 million financed via a three-year note.

The deal, which should close in March, comes on the heels of Fifth & Pacific’s sale of Juicy Couture to Authentic Brands Group for $195 million in October and is a result of the publicly trade company’s decision to focus solely on its star fashion brand, Kate Spade.

"It is truly an historic day at Fifth & Pacific Companies–a return to our roots as a monobrand company,” said Fifth and Pacific’s CEO William L. McComb in a published statement. “Just as I indicated back on October 7th when we announced the Juicy Couture deal with Authentic Brands Group, the decision to sell Lucky Brand Jeans is the result of a process we began last year–studying our resource allocation needs, our capital structure and the operating risks and opportunities associated with a multibrand portfolio. Simply put, it is the outcome of our work to identify the best way to unlock shareholder value.”

Gene Montesano and Barry Perlman founded LA-based Lucky Brand Jeans in 1990 and Liz Claiborne acquired an 85% share of it in 1999. Montesano and Perlman, who have since departed, launched the successful denim line Civilianaire in 2011.

A new Lucky Brand flagship store, in Beverly Hills, just opened two months ago.