Latest News
Vince Holding Acquires Rebecca Taylor and Parker Contemporary Brands for USD 19.7m
Friday 08 November 2019

8 November 2019 - New York, US-based luxury apparel and accessories brand Vince Holding Corp. (NYSE: VNCE) has acquired women's brands Rebecca Taylor and Parker with net sales of approximately USD 84m for the 12 months ended February 2, 2019, the company said.
The acquisition closed on November 3, 2019.
Total cash consideration was USD 19.7m reflecting the payoff of USD 19.2m of outstanding debt obligations under the credit facility of the Acquired Businesses and USD 0.5m of compensation expense. On the closing date, the assets of the acquired businesses included USD 0.7m of cash.
Vince funded the purchase with cash utilising its existing revolving credit facility, which was increased by USD 20m to USD 100m simultaneously with the acquisition. No changes to covenants were associated with the increase in the revolving credit facility.
Vince said it sees opportunity to accelerate growth in each of these brands by implementing the Vince strategic playbook to build direct-to-consumer strategies, further expand brand awareness, and leverage core competencies through the sharing of best practices. The expansion of the company's revolving credit facility also provides additional financial flexibility to support growth initiatives.
Vince is best known for creating elevated yet undersaid pieces for every day. Vince offers women's and men's ready-to-wear and footwear as well as capsule collections of handbags, fragrance, and home for a global lifestyle. Vince products are sold in prestige locations worldwide.
As of November 5, 2019, the company operated 48 full-price retail stores, 15 outlet stores, its e-commerce site, vince.com, as well as its subscription business, Vince Unfold.
Rebecca Taylor is a high-end women's contemporary lifestyle brand inspired by beauty in the everyday. With an emphasis on signature prints, dimensional texture and modern nostalgia, the collection cultivates a look of romantic fragility with a sophisticated edge.
Parker is a contemporary women's fashion brand with a strong brand following.
Details
Date Published: 08/11/2019
Target: Rebecca Taylor and Parker
Country: USA
Deal Size: 84m (USD)
Sector: Clothing/Textiles
Type: LBO
Financing: Cash
Status: Closed
Vendor:
Buyer: Vince Holding Corp
Comment:


Options