Fulbright Finalizes $106M Acquisition for Leading Apparel Manufacturer
Fulbright & Jaworski L.L.P., along with Swiss counsel Meyerlustenberger Lachenal Avocats, advised G-III Apparel Group, Ltd. in its acquisition of Vilebrequin, a global provider of luxury swimwear, accessories and resort-wear.
Vilebrequin sells its products through a network of 185 owned and franchised retail stores and shops, as well as through select wholesale distribution.
G-III is a leading apparel manufacturer and distributor that also operates outlet stores. G-III sells apparel under well-known brands such as Calvin Klein, Sean John, Kenneth Cole, Cole Haan, Guess and Tommy Hilfiger, as well as under its own Andrew Marc brand.
G-III acquired Vilebrequin for a total purchase price of approximately $106 million, consisting of $88 million in cash and $18 million in unsecured promissory notes. In addition, the agreement provides for up to an additional approximately $28 million of contingent future payments based upon performance objectives over the next three years.
Vilebrequin is headquartered in Geneva, Switzerland. Roland Herlory, the former Hermès managing director of its Latin America and Caribbean territories, has agreed to join Vilebrequin as its Chief Executive Officer.
Barclays acted as exclusive financial advisor to G-III.
Also assisting were tax partner Jeff Marks, real estate partner Doug Danzig and real estate associate Jarrett Stephens, trademark partner Mark Mutterperl and trademark senior associate Jessica Parise, and employee benefits of counsel Alan Aronson.