×
74 155
Fashion Jobs
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, $15 Per Hour
Permanent · TANNERSVILLE
UNDER ARMOUR
Stock Lead, ft
Permanent · WOODSTOCK
URBN
Assistant General Manager (m&v)
Permanent · GLEN MILLS
URBN
Free People Senior Merchandise Planner
Permanent · PHILADELPHIA
L'OREAL GROUP
Analyst - Supply Chain
Permanent · Streetsboro
L'OREAL GROUP
Payroll, Senior Business Analyst (IT Liaison) – l’Oreal Corporate Payroll
Permanent · St. Petersburg
L'OREAL GROUP
Senior Manager- Human Resources, Luxe Supply Chain
Permanent · South Brunswick Township
PRANA
Director, Strategic Accounts & Sales Business Development
Permanent · CARLSBAD
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Stanford
Permanent · PALO ALTO
ROSS
Store Protection Specialist
Permanent · Tampa
ROSS
Store Protection Specialist
Permanent · McAllen
VF CORPORATION
Vice President, Chief Product & Merchandising Officer (Global Dickies)
Permanent · Fort Worth
COTY
Director, E-Commerce Accounts Luxury
Permanent · New York
COTY
Vice President, us Consumer Beauty
Permanent · New York
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Miromar Outlets
Permanent · Estero
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Tysons Corner
Permanent · McLean
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Perimeter
Permanent · Atlanta
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Faneuil Hall
Permanent · Boston
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Faneuil Hall
Permanent · Boston
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Faneuil Hall
Permanent · Boston
TJX COMPANIES
Global Security & Safety Center Operator- Marlborough, ma
Permanent · Marlborough
NORDSTROM
Asset Protection - Agent - Park Meadows Rack
Permanent · Littleton
Published
Jun 12, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Iconix to go private via deal with Lancer Capital

Published
Jun 12, 2021

Iconix Brand Group, Inc., the owner of brands including Umbro and Lee Cooper, announced on Friday that it has entered into a definitive agreement to be acquired by Iconix Acquisition Corp., an affiliate of Lancer Capital.
 

The deal values Iconix at approximately $585 million - Instagram: @leecooper1908


The all-cash deal, which values Iconix at around $585 million, including net debt, will result in the company, which also operates a large license portfolio, going private.
 
Under the terms of the transaction, Lancer will commence a tender to acquire all outstanding shares of Iconix’s common stock for $3.15 per share, in cash. This offer price per share represents a premium of 28.6% over the company’s closing share price on June 10,2021, and a premium of around 46.5% over its average volume weighted share price for the 30-day period ended June 10, 2021.

Shares not tendered in the offer will be acquired in a second-step merger at the same cash price as that paid in the offer. Iconix’s board of directors has unanimously approved the deal.
 
“Today’s announcement represents the culmination of a year-long examination by our board of directors of strategic alternatives for the company,” said Iconix CEO Bob Galvin in a release. “After a thorough and deliberative examination of all potential strategic alternatives, the board of directors determined that the transaction with Lancer provides the best value for our stockholders. We expect that Iconix will continue developing its brands and supporting its partners as a private company.”
 
Having suffered heavily from the impact of the Covid-19 pandemic, Iconix first announced that it was considering a possible sale, among other strategic alternatives, in July 2020.
 
As it has sought out a financial lifeline, the New York-based company has sold its Umbro, Starter and Lee Cooper businesses in China over the course of the last year. The group also reduced its headcount and eliminated non-essential operating expenses, with the aim of achieving more than $10.0 million in annualized cost savings.
 
In 2020, Iconix’s revenue totaled $108.6 million, down 27% compared to the previous year, while the company’s annual net loss came to $7.3 million, or $0.60 per diluted share.
 

Copyright © 2023 FashionNetwork.com All rights reserved.