Liz Claiborne to acquire Kate Spade
November 8, 2006,
New York — Liz Claiborne today said it will purchase Kate Spade LLC for about $124 million, including the retirement of debt. The deal is expected to close during the current fourth quarter.
Reporting $1.37 billion in sales for the third quarter last month, Liz Claiborne licenses an extensive soft home line through American Pacific Enterprises.
"Our job now is to maintain the essence of Kate Spade while driving it to the next level -- something we have done quite successfully with other acquired brands in our portfolio," said Trudy Sullivan, president of Liz Claiborne.
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