Green sells 25% Topshop stake for £500m Sir Philip Green has agreed the sale of a minority stake in Topshop and Topman to a US private equity firm, in a deal that values the British fashion chain at £2bn. The billionaire entrepreneur on Thursday confirmed the £500m all-cash sale of a 25 per cent stake in Topshop and Topman to Leonard Green & Partners, a US private equity group with broad retail interests. IN Retail & Consumer The partnership will enable the fashion chain to further its expansion into the lucrative US market, following a recent deal with department store chain Nordstrom to market Topshop and Topman clothing. Topshop and Topman are widely considered the two jewels in the crown of Sir Philip's Arcadia retail empire, whose other brands include department store BHS and high street names such as Evans, Dorothy Perkins and Miss Selfridge. The Topshop and Topman stake sale will enable Arcadia to pay off all of its £300m net debt, giving the retail group a positive cash position. Under my family's ownership we have continued to invest in and grow the Topshop and Topman brands. Having had extensive dialogue over several months, the board felt that Leonard Green & Partners becoming our partner would be extremely beneficial," said Monaco-based Sir Philip. "Their experienced management teams and knowledge of retail in the US will greatly assist Topshop and Topman with their global expansion," he said, identifying China and other parts of Asia as other potential targets for growth. The sale marks the first occasion that Sir Philip has agreed to outside investment in his family-controlled group since he acquired Arcadia for £840m a decade ago. Leonard Green has a track record of investing in US retail companies, and has held stakes in Whole Foods Market, J Crew, Neiman Marcus, Petco and The Container Store.