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PVH : to Acquire 55% Stake in TH Asia (Tommy Hilfiger China) from Apax Partners

02/03/2016 | 03:36am US/Eastern
Deal Type: Acquisition
Deal Sub Type: Majority Acquisition
Deal Country: China
Deal Status: Announced
Deal Value: 172.0000 USD

Deal in Brief

PVH Corp. has agreed to acquire a 55% stake in TH Asia Ltd., a joint venture company for Tommy Hilfiger in China, from Apax Partners, a private equity firm based in the UK, for a purchase consideration of USD172 million, net of cash of approximately USD100 million, subject to adjustment. TH Asia is a joint venture company of PVH and Apax Partners, which is engages in the wholesale and retail of lifestyle apparel and accessories. PVH is a designer, manufacturer and retailer of apparel, accessories, footwear, household products and other consumer products based in the US. The transaction is subject to customary closing conditions and regulatory approvals, is expected to close by the end of June 30, 2016. Emanuel Chirico is the chairman and chief executive officer of PVH.

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