Printer Friendly

Carter's announces acquisition of USD140m Skip Hop Holdings.

M2 EQUITYBITES-February 24, 2017-Carter's announces acquisition of USD140m Skip Hop Holdings

(C)2017 M2 COMMUNICATIONS http://www.m2.com

Apparel company Carter's Inc (NYSE:CRI) revealed on Thursday the completion of the acquisition of all of the outstanding equity of Skip Hop Holdings Inc from Fireman Capital Partners for a total purchase price of USD140m in cash.

The purchase price is subject to a working capital adjustment, plus a potential future payment of up to USD10m contingent upon the achievement of certain fiscal targets in 2017.

Skip Hop Holdings is a global lifestyle brand for families with young children. It offers families with young children essential products that are differentiated from a design and function perspective. Its product portfolio includes distinctive offerings across multiple categories, including diaper bags, kid's backpacks, travel accessories, home gear, and hardlines for playtime, mealtime, and bathtime. Its products are distributed in more than 5,000 doors in the US and more than 60 countries.

In conjunction, Skip Hop's acquisition is expected to be accretive to Carter's fiscal 2017 adjusted earnings per share, excluding the impact of non-recurring transaction or integration-related expenses.

JP Morgan Securities LLC acted as financial advisor and King & Spalding LLP acted as legal counsel to Carter's in connection with the transaction.

((Comments on this story may be sent to info@m2.com))

COPYRIGHT 2017 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2017 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Date:Feb 24, 2017
Words:220
Previous Article:Southwest Gas Holdings to pay higher Q2 2017 dividend of USD0.495 per share.
Next Article:Recipharm posts profit of SEK196m in 2016.
Topics:

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters