Guess?, Inc. (NYSE: GES) and WHP Global completed the acquisition of rag & bone, Inc.
April 01, 2024
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Guess?, Inc. (NYSE: GES) and WHP Global agreed to acquire rag & bone, Inc. on February 16, 2024. Guess will contribute $56.5 million. Additionally, there is the potential for an incremental earnout consideration of which Guess? will be responsible for a maximum of $12.8 million, based on preset levels of sales and EBITDA performance over the course of rag & bone's 2024 fiscal year. rag & bone will continue to be based in New York City. As part of the Guess? portfolio, the rag & bone team will operate as an independent fashion brand with a focus on continuing to provide unique and timeless collections to its customers. rag & bone recorded revenue of $250 million and adjusted EBITDA of $18 million. The Sage Group, LLC is serving as financial advisor and O'Melveny & Myers LLP is serving as legal advisor to Guess?, Inc. Kirkland & Ellis LLP is serving as legal advisor to WHP Global. Solomon Partners, L.P. is serving as financial advisor and Golenbock Eiseman Assor Bell & Peskoe LLP and Katten Muchin Rosenman LLP are serving as legal advisors to rag & bone. The transaction is subject to customary closing conditions, including regulatory approval, and is expected to close during the first quarter of Guess?? 2025 fiscal year.
Guess?, Inc. (NYSE: GES) and WHP Global completed the acquisition of rag & bone, Inc. on April 2, 2024.
Guess?, Inc. designs, markets, distributes and licenses lifestyle collections of apparel and accessories for men, women and children. The Companyâs segments include Europe, Americas Retail, Americas Wholesale, Asia, and Licensing. The Europe segment sells its products through direct-to-consumer and wholesale channels throughout Europe and the Middle East. Its European direct-to-consumer network is comprised of brick-and-mortar retail stores and concessions and e-commerce sites. The Americas Retail segment sells its products direct-to-consumer through a network of directly operated retail and factory outlet stores and e-commerce sites in the Americas. The Wholesale segment sells its products through wholesale channels throughout the Americas and to third-party distributors based in Central and South America as well as licensed retail locations operated by its wholesale partners. The Licensing segment includes its worldwide licensing operations.