Textiles & Apparel M&A » By The Online Investor Staff, updated Thu., Apr. 18, 11:22 AM
Recent mergers and acquisitions in the Textiles & Apparel M&A category.
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Slide #31. G-III Apparel Group — Vilebrequin
Acquirer:
G-III Apparel Group (NASDAQ:GIII)
Acquiree:
Vilebrequin
Details:
G-III Apparel Group announced that it has acquired Vilebrequin, a leading global provider of luxury swimwear, accessories and resort-wear. The total purchase price is 85.5 million (approximately $106.2 million), subject to certain post-closing adjustments, of which 70.5 million (approximately $87.6 million) was paid in cash and 15 million (approximately $18.6 million) was paid by unsecured promissory notes, due December 31, 2017, with interest at the rate of 5% per year. In addition to the purchase price, the agreement provides for up to an additional 22.5 million (approximately $27.9 million) of contingent future payments based upon achieving certain performance objectives related to growth over the three years ending December 31, 2015.
Broker/underwriter/advisor:
Barclays (Advisor)
Broker/underwriter/advisor:
Fulbright & Jaworski L.L.P. and Meyerlustenberger Lachenal Avocats (Advisor)
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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Avg. Broker Rec.
 
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Hold (1.60 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: GIII Stock Forecast Based on Zacks ABR data; powered by Xignite |
