International specialty retailer and cataloguer of women's, children's and men's apparel, shoes and accessories, The Talbots, Inc., has completed its previously announced acquisition of The J. Jill Group, a multi-channel specialty retailer of women's apparel, accessories and footwear. At the end of 2005, The J. Jill Group operated 200 stores with revenues of approximately $450 million.

Talbots acquired all the outstanding shares of J. Jill for $24.05 per share, in cash, for a total equity consideration of approximately $517 million.

Talbots has also announced several key promotions. Phil Kowalczyk, formerly Talbots executive vice president, chief administrative officer, has been appointed president of the J. Jill brand. Olga Conley, formerly J. Jill's executive vice president/chief financial officer and chief administrative officer, has been named executive vice president, Administration for Talbots. David Dirienzo, formerly vice president for Talbots Men’s and Talbots Kids, has been appointed executive vice president, Merchandising for the J. Jill brand.