×
62 385
Fashion Jobs
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Arvada
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Racine
KOHLS
Full-Time Loss Prevention Officer
Permanent · Laguna Niguel
KOHLS
Full-Time Loss Prevention Officer
Permanent · Woodbridge
ATHLETA
General Manager - Butler Plaza (New Store)
Permanent · Gainesville
ATHLETA
General Manager - Hudson Yards
Permanent · New York
ATHLETA
General Manager - Morristown, 30 w. Park Place
Permanent · Morristown
ATHLETA
General Manager - Georgetown
Permanent · Washington
ATHLETA
General Manager - Westfield
Permanent · Westfield
ATHLETA
General Manager - Galleria @ Roseville
Permanent · Roseville
ATHLETA
General Manager - Natick
Permanent · Natick
ATHLETA
General Manager - Newport- Long Wharf
Permanent · Newport
NEIMAN MARCUS
Loss Prevention Investigator- Boston
Permanent · Boston
NEIMAN MARCUS
Sales Manager, Handbags - Orlando
Permanent · Orlando
NEIMAN MARCUS
Product Manager, Checkout
Permanent · Irving
NEIMAN MARCUS
Loss Prevention Investigator
Permanent · Dallas
NEIMAN MARCUS
Sales Manager, Designer Sportswear Selling - Short Hills
Permanent · Millburn
OLD NAVY
Assistant General Manager, Merchandising - Oakridge
Permanent · San Jose
OLD NAVY
Unassigned - General Manager - Mall of The Americas
Permanent · Miami
OLD NAVY
General Manager - Northside Marketplace
Permanent · Nashville
OLD NAVY
External Asset Protection Lead - Solano
Permanent · Fairfield
OLD NAVY
General Manager - Shops at Centerpoint
Permanent · Grand Rapids
Published
Feb 18, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Apex Global Brands to be acquired by Galaxy Universal

Published
Feb 18, 2021

Sherman Oaks, California-based brand management company Apex Global Brands Inc., whose portfolio includes Cherokee, Hi-Tec, and Interceptor, announced on Tuesday that it has entered into an agreement to be acquired by Galaxy Universal LLC.


Apex's brand potfolio includes Cherokee and Hi-Tec - Instagram: @hitec

 
The merger, which has been unanimously approved by Apex’s board of directors, is an all-cash deal that will see Galaxy Universal acquire all of the company’s 564,000 outstanding shares for $2.00 per share.
 
Following the merger, which is expected to complete in the second quarter of 2021, Apex will be wholly owned by Galaxy Universal.

“After conducting an extensive analysis of our strategic alternatives with our financial advisor, the Board of Directors concluded that our sale to Galaxy Universal LLC is the best path to deliver equity to our shareholders,” commented Apex CEO Henry Stupp in a release. “We believe that the sale process will be seamless for our licensees and that there will be no disruption to our operations.”
 
The deal is subject to approval by Apex stockholders, as well as other customary closing conditions. The company said that a special stockholder meeting will be held as soon as is practicable.
 
Certain stockholders in possession of around 30% of Apex’s outstanding shares have entered into a voter agreement which commits them to vote in favor of the merger agreement. These stockholders include Apex’s officers and directors.
 
Apex currently has license agreements with retailers and manufactures in around 140 countries. Its products are present in more than 20,000 retail locations around the world, as well as on a range of e-commerce platforms.
 
In the third quarter ended October 31, 2020, the company’s revenues totaled $4.1 million, down 17% from $4.9 million in the same period in the previous year. Net loss for the quarter was $6.0 million, or $10.58 per diluted share.
 
Galaxy Universal’s operations include wholesaling, sourcing and brand management. The company’s areas of focus include the athletic, work and outdoor categories.

Copyright © 2021 FashionNetwork.com All rights reserved.