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Slide #64. G-III Apparel Group, Ltd. — G.H. Bass & Co. Business
Acquirer:
G-III Apparel Group, Ltd. (NASDAQ:GIII)
Acquiree:
G.H. Bass & Co. Business
Details:
PVH Corp. [NYSE:PVH] announced today that it has signed a definitive agreement to sell substantially all of the assets of its G.H. Bass & Co. division to G-III Apparel Group, Ltd. [NasdaqGS:GIII] for approximately $50 million in cash. The transaction is expected to close in the beginning of the fiscal fourth quarter 2013 and is subject to certain post-closing adjustments and customary closing conditions.
G-III Apparel Group designs, sources and markets a range of apparel, such as outerwear, dresses, sportswear, swimwear, women's suits and women's performance wear, as well as women's handbags, footwear, small leather goods, cold weather accessories and luggage. Co. sells products under various brands, including Calvin Klein, Tommy Hilfiger, Levi's, and Guess?. Co.'s segments are: wholesale operations, which includes sales of products to retailers under owned, licensed and private label brands, as well as sales related to the Vilebrequin and Karl Lagerfeld businesses; and retail operations, which includes direct sales to consumers through its Co.-operated stores and through digital channels.
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Hold (1.60 out of 4) 0th percentile
(ranked lower than approx. 100% of all stocks covered)
Analysts' Target Price: GIII Stock Forecast Based on Zacks ABR data; powered by Xignite |