PVH Corp. announced that Basic Resources will acquire PVH‘s Warners, Olga and True & Co. businesses. The all-cash purchase price is $160M, subject to adjustment, plus an earnout based on the net sales on a portion of the acquired businesses for calendar 2024, with a maximum value of $10M. The transaction is expected to close at the end of November, subject to standard closing conditions. PVH intends to use the net proceeds from the transaction to repurchase shares of its common stock.
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