Guess?, Inc. and WHP Global Complete the Acquisition of rag & bone
03 April 2024 - 11:00PM
Business Wire
Guess?, Inc. (NYSE: GES) and global brand management firm WHP
Global today announced that they have completed the previously
announced acquisition of New York based fashion brand rag &
bone.
Under the terms of the transaction, Guess? has contributed $57.1
million towards the purchase of rag & bone, in addition to
contributions from WHP Global. As a result, Guess? now owns all of
the rag & bone operating assets, and Guess? and WHP Global
jointly own the rag & bone intellectual property.
In connection with the closing of the acquisition, Guess? has
entered into an agreement with the lenders of its existing $150
million asset-based revolving credit facility to increase the
borrowing capacity under the facility by $50 million to a total of
$200 million.
For additional information on the acquisition of rag & bone,
please read the announcement press release here.
About GUESS?, Inc.
Guess?, Inc. designs, markets, distributes and licenses a
lifestyle collection of contemporary apparel, denim, handbags,
watches, eyewear, footwear and other related consumer products.
Guess? products are distributed through branded Guess? stores as
well as better department and specialty stores around the world. As
of February 3, 2024, the Company directly operated 1,002 retail
stores in Europe, the Americas and Asia. The Company’s partners
operated 551 additional retail stores worldwide. As of February 3,
2024, the Company and its partners and distributors operated in
approximately 100 countries worldwide. For more information about
the Company, please visit www.guess.com.
About WHP Global
WHP Global is a leading New York based firm that acquires global
consumer brands and invests in high-growth distribution channels
including digital commerce platforms and global expansion. WHP owns
a portfolio of consumer brands that collectively generate over USD
$7 billion in global retail sales. The company also owns WHP+, a
turnkey direct to consumer digital e-commerce platform, and WHP
SOLUTIONS, a sourcing agency based in Asia. For more information,
please visit www.whp-global.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240402071209/en/
Guess?, Inc. Investor Relations
Fabrice Benarouche Senior Vice President Finance, Investor
Relations and Chief Accounting Officer (213) 765-5578
ir@guess.com
WHP Global Jaime Cassavechia
jaime@ejmediagroup.com
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