Sycamore Partners completes it's purchase of Belk

Another one of Charlotte's retailers has officially changed ownership.

Sycamore Partners has announced it has completed it's purchase of Belk.

This brings an end to 127 years of local ownership.

Belk's headquarters will remain in Charlotte and Tim Belk will still serve as CEO.

"We are very pleased to complete this transaction with Sycamore Partners, which delivers meaningful value to all our stakeholders. Our partnership with Sycamore will contribute to Belk's continued success, and we look forward to leveraging Sycamore's deep knowledge of the retail market to best serve our dedicated customers and provide even greater opportunities for our valued team members," Tim Belk said.
The retailer says you probably won't notice many changes in the actual stores.