Consumer Goods & Retail
PVH Closes $2.9B Warnaco Deal
The deal brings the Calvin Klein brand back together
PVH Corp. (NYSE: PVH) has closed on its $2.9 billion purchase of the Warnaco Group Inc., reuniting two parts of Calvin Klein under one roof.
PVH now owns Warnaco brands Speedo, Body Nancy Ganz/Bodyslimmers, Warner’s and Olga, in addition to the rest of Calvin Klein.
Before the deal, PVH already owned Tommy Hilfiger, Van Heusen, Izod, Arrow and Bass, as well as part of Calvin Klein. The deal was announced in October.
The company has also closed on new senior secured credit facilities, consisting of $3.075 billion in term loans and a $750 million revolving credit facility.
For more on retail M&A, see “Retail M&A: Time-Tested Brands Sell.”
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