11:06 AM EST, 01/23/2025 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

Vince Holding ( VNCE ) shares surged more than 107% in recent trading Thursday following P180's acquisition of a majority stake in the company from Sun Capital Partners affiliates.

Vince ( VNCE ) announced the transaction late Wednesday, saying Brendan Hoffman will become its new CEO on Feb. 3, taking over from Interim CEO David Stefko, who will remain on the board.

Vince ( VNCE ) 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 ( VNCE ) shares, while Sun Capital affiliates own about 2%.

Price: 4.87, Change: +2.52, Percent Change: +107.28