Liz Claiborne Inc announced that it has completed the transaction to sell its global Mexx business to a joint venture in exchange for 18.75% of the common equity of the joint venture and total cash consideration of $85 million (subject to post-closing working capital adjustments), which includes the assumption of ABL facility debt by the joint venture. The Gores Group, LLC owns an 81.25% majority interest in the joint venture.
Liz Claiborne Inc designs and markets a global portfolio of retail-based premium brands including Juicy Couture, kate spade and Lucky Brand. The Company also has a refined group of department store-based brands with strong consumer franchises including the Monet family of brands and the licensed DKNY Jeans and DKNY Active brands.
The Liz Claiborne and Claiborne brands are available at JCPenney and the Liz Claiborne New York brand designed by Isaac Mizrahi is available at QVC.
Founded in 1987, The Gores Group, LLC is a private equity firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base.
The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group, LLC is a leading investor having demonstrated over time a reliable track record of creating substantial value in its portfolio companies alongside management.
Liz Claiborne Inc designs and markets a global portfolio of retail-based premium brands including Juicy Couture, kate spade and Lucky Brand. The Company also has a refined group of department store-based brands with strong consumer franchises including the Monet family of brands and the licensed DKNY Jeans and DKNY Active brands.
The Liz Claiborne and Claiborne brands are available at JCPenney and the Liz Claiborne New York brand designed by Isaac Mizrahi is available at QVC.
Founded in 1987, The Gores Group, LLC is a private equity firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base.
The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group, LLC is a leading investor having demonstrated over time a reliable track record of creating substantial value in its portfolio companies alongside management.
