True Religion, the Y2K-era jeans brand in the midst of a comeback, has been acquired by private equity firm ACON Investments and its partner SB360 Capital.

Washington, D.C.-based private equity firm ACON Investments, L.L.C. and strategic partner SB360 Capital Partners, a retail investment firm led by American Eagle CEO Jay Schottenstein, on Tuesday announced that they acquired a controlling stake in the lifestyle label. The terms of the transaction weren’t disclosed.

True Religion, the beloved fashion brand, announced that a majority stake had been acquired by private equity firm Acon Investments. SB360 Capital Partners, which is led by American Eagle’s chief executive Jay Schottenstein,

Acon Investments, L.L.C. and its affiliates have acquired a controlling stake in True Religion.