Home / Knowledge / News / Apparel/Garments / Joe's Jeans completes acquisition of Hudson Clothing
Joe's Jeans completes acquisition of Hudson Clothing
02
Oct '13
Joe’s Jeans Inc. announced it has completed the acquisition of Hudson Clothing Holdings, Inc., a leading global designer and marketer of women’s and men’s premium branded denim apparel.

“We are very pleased to have completed the acquisition of Hudson and we look forward to capitalizing on the numerous opportunities created by this partnership,” stated Marc Crossman, President and CEO of Joe’s Jeans. “The combination of our two organizations, which doubles the size of our business, significantly enhances our prospects for growth across wholesale, retail and e-commerce, both domestically and overseas. The combination also provides operating and supply chain benefits that should drive meaningful cost savings in the future and underscores our positive outlook.”

Hudson’s CEO, Peter Kim, added, “We are excited about this merger. We could not have thought of a better partner to join with to help us achieve a shared strategic vision of being the leader in the premium denim market and impacting it in a significant way.” Mr. Kim continued, “We are committed for the long haul and are eager to cross share our expertise. We expect the combined company to be at the forefront of the industry.”

Many opportunities lie ahead as a result of this merger. While it is of paramount importance to preserve the distinct and separate DNA of each brand, the combined company hopes to realize significant savings across all components of making a jean. The magnitude of the combined company is expected to provide both brands with improved purchasing authority with current and future vendors. Both brands are eager to seize these opportunities as they will jointly benefit not only from operational efficiencies, but also by sharing expertise in growth areas, such as men’s and kid’s apparel, e-commerce, international and retail.

The total purchase price for Hudson was $97.6 million. Transaction financing consisted of a $50 million revolving credit facility with CIT Trade Finance as agent and a $60 million senior term loan provided by affiliates of Garrison Investment Group as agent. CIT Capital Markets acted as lead arranger for the transaction financing. CIT Trade Finance will also provide factoring services to the combined companies.

Threadstone Advisors LLC served as financial advisor to Joe’s Jeans on the transaction and Akin, Gump Strauss Hauer & Feld LLP served as legal advisor. Lazard Middle Market LLC served as financial advisor to Hudson on the transaction and McDermott Will & Emery LLP served as legal advisor. Triangle Capital LLC provided a Fairness Opinion to the Board of Directors of Joe’s Jeans.

Joe's Jeans is a casual, chic lifestyle brand offering a unique interpretation on classic, modernized wardrobe staples encompassing a versatile range of timeless styles from premium denim and luxe collection pieces to contemporary accessories and footwear.

Joe's Jeans


Must ReadView All

Apparel/Garments | On 28th Jul 2017

DuPont launches new stretchable electronic inks, films

DuPont Advanced Materials has announced availability of its newest...

Textiles | On 28th Jul 2017

Clariant, Huntsman present update on planned merger

Clariant and Huntsman Corporation have presented a first update on...

Apparel/Garments | On 28th Jul 2017

Columbia Sportswear posts Q2 2017 net sales of $398.9 mn

Columbia Sportswear Company has recorded net sales of $398.9 million...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
61.1%
No
22.2%
Skip
16.7%

Total Votes: 18

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
33.3%
No
44.4%
Skip
22.2%

Total Votes: 18

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
5.6%
Skip
11.1%

Total Votes: 18

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
50.0%
No
11.1%
Skip
38.9%

Total Votes: 18


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X