G-III Apparel Group, Ltd. Completed it's acquisition of the remaining 81% stake in Karl Lagerfeld BV from Amlon Capital BV and others for approximately €290 million.
May 30, 2022
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G-III Apparel Group, Ltd. (NasdaqGS:GIII) agreed to acquire the remaining 81% stake in Karl Lagerfeld BV for approximately €200 million on April 29, 2022. The Transaction is subject to certain adjustments and customary closing conditions. The all-cash transaction has been approved by the board of directors of both companies. The transaction is expected to close in the second or third quarter of fiscal year 2023. The acquisition is expected to be modestly accretive in our fiscal 2023 year ending January 31, 2023, and incrementally more accretive thereafter. Jakob Rendtorff, Alan Klein, Lori Lesser, Andrew Blau, Sara Razi, Preston Miller, Brian Steinhardt, Andrew Purcell and Timothy Mulvihill of Simpson of Thacher & Bartlett LLP, and De Brauw Blackstone Westbroek P.C. acted as legal advisor to G-III Apparel Group, Ltd. (NasdaqGS:GIII). Barclays Capital Inc. acted as financial advisor to G-III Apparel Group, Ltd. (NasdaqGS:GIII).
G-III Apparel Group, Ltd. (NasdaqGS:GIII) Completed it's acquisition of the remaining 81% stake in Karl Lagerfeld BV from Amlon Capital BV and others for approximately €290 million on May 31, 2022. The transaction was funded by G-III with cash on hand. As a result of the transaction, the Karl Lagerfeld brand is wholly owned by subsidiaries of G-III Apparel Group, Ltd. In addition to cash consideration of €202 million, GIII acquired $38.499 million (€36.64 million) of cash and cash equivalents and also assumed $90.388 million (€86.03) million of liabilities of Karl Lagerfeld BV.
G-III Apparel Group, Ltd. designs, sources and markets a range of apparel, including outerwear, dresses, sportswear, swimwear, womenâs suits and womenâs performance wear, as well as womenâs handbags, footwear, small leather goods, cold weather accessories and luggage. Its segments include wholesale operations and retail operations. The wholesale operations segment includes sales of products to retailers under owned, licensed and private label brands, as well as sales related to the Vilebrequin and Karl Lagerfeld businesses, other than sales of products under the Karl Lagerfeld Paris brand from its retail stores and digital outlets. The retail operations segment consists primarily of direct sales to consumers through its Company-operated stores and through digital channels. Its Company-operated retail channels consist primarily of DKNY and Karl Lagerfeld Paris stores, as well as the digital channels for DKNY, Donna Karan, Karl Lagerfeld Paris, G.H. Bass, Andrew Marc and Wilsons Leather.
G-III Apparel Group, Ltd. Completed it's acquisition of the remaining 81% stake in Karl Lagerfeld BV from Amlon Capital BV and others for approximately €290 million.
G-III APPAREL GROUP, LTD. 
