Sycamore Partners has sold Los Angeles-based retailer Hot Topic to Spencer Spirit Holdings Inc. for undisclosed terms. Hot Topic's portfolio includes Hot Topic, BoxLunch, and Her Universe.

Hot Topic, BoxLunch and Her Universe will continue operating independently from Spencer Spirit, maintaining their California headquarters. Steve Vranes will remain CEO of Hot Topic, Inc., overseeing the three brands' operations and growth.

Spencer Spirit Holdings is the parent company of Spencer's and Spirit retail brands. Solomon Partners advised Spencer Spirit financially, while Jefferies served as Hot Topic's financial advisor. Fried, Frank, Harris, Shriver & Jacobson LLP and Kirkland & Ellis LLP provided legal counsel, with Wells Fargo arranging debt financing.