The Children's Place, Inc. (NasdaqGS:PLCE) entered into an asset purchase agreement to acquire the worldwide rights to Gymboree and Crazy 8 and other intellectual property from Gymboree Group, Inc. for $76 million on March 1, 2019. The consideration will be paid in cash. The purchase price is expected to be funded by cash on hand and borrowings under the Company’s revolving credit facility. The acquisition of the Gymboree Assets is subject to the approval of the United States Bankruptcy Court for the Eastern District of Virginia at a hearing scheduled for March 4, 2019 and other standard closing conditions. The acquisition has been approved by the United States Bankruptcy Court for the Eastern District of Virginia on March 4, 2019. The Children’s Place, Inc. overlap with nearly 70% of the approximately 800 Gymboree and Crazy 8 stores, all of which will complete their liquidation events and close within the next 60 days. The agreement to acquire the Gymboree and Crazy 8 IP and related assets will adversely impact adjusted net income per diluted share by approximately $0.75 as we make incremental investments to support the strategic opportunities for the brands and fund the acquisition. The Gymboree and Crazy 8 acquisition will have an adverse EPS impact of approximately $0.15 to $0.20. Michael Kollender, Derek Herbert, James Doak, Robert Schmidt, Perry McCarthy, David Faulkner, Jeff Hagen and JC Gibbons of Stifel Financial Corp. acted as the financial advisors to Gymboree Group, Inc. The Children's Place, Inc. (NasdaqGS:PLCE) completed the acquisition of worldwide rights to Gymboree and Crazy 8 and other intellectual property from Gymboree Group, Inc. on April 4, 2019.