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Slide #31. G-III Apparel Group — Vilebrequin
G-III Apparel Group (NASDAQ:GIII)
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.
Fulbright & Jaworski L.L.P. and Meyerlustenberger Lachenal Avocats (Advisor)
G-III Apparel Group designs, sources and markets a range of apparel, including outerwear, dresses, sportswear, swimwear, women's suits and women's performance wear, women's handbags, footwear, small leather goods, cold weather accessories and luggage. Co. has two segments: wholesale operations, which includes sales of products under brands licensed by Co. from third parties and sales of products under its own brands and private label brands, and sales related to the Vilebrequin business; and retail operations, which consists of Co.'s Wilsons Leather, G.H. Bass and DKNY stores operated as outlet stores, and a limited number of Calvin Klein Performance and Karl Lagerfeld Paris stores.
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Buy (3.00 out of 4)
(ranked lower than approx. 60% of all stocks covered)
Based on Zacks ABR data;
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