TDK Unit Sold to Golden Gate

Irvine-based chip maker TDK Semiconductor Corp. has been sold to San Francisco investment firm Golden Gate Capital for an undisclosed sum, the companies said Monday.

TDK Semiconductor was a unit of TDK USA Corp., the American arm of Japanese electronics conglomerate TDK Corp. TDK Semiconductor will retain its current management team and remain headquartered in Irvine, but it will be renamed, Golden Gate said.

Golden Gate invests directly in businesses and manages more than $2.6 billion in total capital. The company’s holdings include Eye Care Centers of America Inc., the second-largest retail optical chain in the United States; women’s clothing seller Spiegel Inc.; and nutritional products marketer Herbalife Ltd.

-- Josh Friedman