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PVH & Apax to script Tommy Hilfiger acquisition

24
Dec '05
Funds advised by Apax Partners announced that they have entered into an agreement to acquire Tommy Hilfiger Corporation. World's largest apparel companies Phillips-Van Heusen Corporation and Apax Partners have previously worked together on PVH's acquisition of Calvin Klein.

In connection with that transaction, funds advised by Apax Partners acquired all of PVH's Series B convertible preferred stock, the outstanding shares of which are currently convertible into approximately 23 percent of PVH's outstanding common stock.

PVH and Apax are in preliminary discussions to explore how PVH can work together in connection with the Tommy Hilfiger Corporation in the U.S. There is no agreement or understanding between Apax Partners and PVH regarding any relationship and there can be no assurance that the parties will enter into an agreement or understanding regarding Tommy Hilfiger Corporation.

New York based Phillips-Van Heusen Corporation owns and markets the Calvin Klein brand worldwide. It is the world's largest shirt company and markets a variety of goods under its own brands, Van Heusen, Calvin Klein, IZOD, Arrow, Bassand G.H. Bass & Co, and its licensed brands Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, BCBG Max Azria, BCBG Attitude, MICHAEL Michael Kors, Sean Jean, Donald J. Trump Signature Collection and Chaps.

Phillips-Van Heusen Corporation


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