03:41 AM EST, 01/23/2025 (MT Newswires) -- 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 ( VNCE ) 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 ( 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%.