Tommy deal to close by spring

NEW YORK – Apax Partners Worldwide, a global private equity firm, will close on its $1.6 billion acquisition of Tommy Hilfiger Corporation paying $16.80 a share in cash by sometime this spring, pending shareholder approval, according to the company.

Company founder Tommy Hilfiger will remain active as principal designer and chairman of the strategy and design board, but serve in a new role upon closing of the transaction. David Dyer, CEO of Tommy Hilfiger Corp., will leave the company and Fred Gehring, CEO of Tommy Hilfiger Europe, will assume leadership. Dyer is also the former president of Lands’ End.

Home & Textiles Today Staff | News & Commentary

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See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more... See details!