J.Crew Group, Inc. (NYSE: JCG) today announced the completion of its acquisition by Chinos Holdings, Inc. and Chinos Acquisition Corporation, affiliates of TPG Capital, L.P. and Leonard Green & Partners, L.P., for $43.50 per share in cash. The transaction was approved by J.Crew’s stockholders at a special meeting of stockholders held on March 1, 2011. J.Crew common stock will be delisted from the New York Stock Exchange. Cleary Gottlieb Steen & Hamilton LLP acted as legal advisor to J.Crew. The Special Committee of the J.Crew Board of Directors was advised by an independent financial advisor, Perella Weinberg Partners LP, and an independent legal advisor, Cravath, Swaine & Moore LLP. Willkie Farr & Gallagher LLP acted as legal advisor to Millard Drexler. Goldman, Sachs & Co. and Bank of America Merrill Lynch acted as financial advisors to TPG Capital and Leonard Green & Partners. Ropes & Gray LLP acted as legal advisor to TPG Capital and Latham & Watkins LLP acted as legal advisor to Leonard Green & Partners. About J.Crew Group, Inc. J.Crew Group, Inc. is a nationally recognized multi-channel retailer of women's, men's and children's apparel, shoes and accessories. As of March 1, 2011, the Company operated 249 retail stores (including 219 J.Crew retail stores, 10 crewcuts and 20 Madewell stores), the J.Crew catalog business, jcrew.com, madewell.com and 85 factory stores. Additionally, certain product, press release and SEC filing information concerning the Company are available at the Company's website www.jcrew.com. About TPG Capital, L.P. TPG Capital is the global buyout group of TPG, a leading private investment firm founded in 1992, with more than $48 billion of assets under management and offices in San Francisco, Beijing, Fort Worth, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, Paris, Shanghai, Singapore and Tokyo. TPG Capital has extensive experience with global public and private investments executed through leveraged buyouts, recapitalizations, growth investments, joint ventures and restructurings. TPG Capital invests in world-class franchises across a range of industries, including past and present retail investments such as American Tire Distributors, Burger King, China Grand Auto, Daphne, Debenhams, Myer, Neiman Marcus Group, PETCO Animal Supplies and Republic, among others.