Gap to sell Intermix clothing chain to private equity firm

SAN FRANCISCO — Gap Inc. has signed a deal to sell the upscale clothing chain Intermix to private equity firm Altamont Capital Partners. Gap said Tuesday that Altamont Capital intends to acquire the entire Intermix business, including all store leases, e-commerce and assets. It didn’t disclose the purchase price. The move comes as Gap is trying to slim down its portfolio of brands to better focus on its namesake business as well as Old Navy, Banana Republic and Athleta.