US' Guess completes acquisition of rag & bone, expands credit facility

05 Apr '24

1 min read

Pic: Adobe Stock

Insights

Guess and WHP Global have successfully acquired rag & bone, an iconic NYC fashion brand.
Guess contributed $57.1 million, securing joint ownership of intellectual property with WHP.
This acquisition marks a strategic move, further solidifying Guess' position in the fashion industry.
Guess strengthened its funding by raising its credit facility to $200 million.

Guess?, Inc. (NYSE: GES) and global brand management firm WHP Global announced that they have completed the previously announced acquisition of New York based fashion brand rag & bone.

Under the terms of the transaction, Guess? has contributed $57.1 million towards the purchase of rag & bone, in addition to contributions from WHP Global. As a result, Guess? now owns all of the rag & bone operating assets, and Guess? and WHP Global jointly own the rag & bone intellectual property.

In connection with the closing of the acquisition, Guess? has entered into an agreement with the lenders of its existing $150 million asset-based revolving credit facility to increase the borrowing capacity under the facility by $50 million to a total of $200 million.