M&A - TAPESTRY, INC.
Form Type: 8-K
Filing Date: 2025-02-19
Corporate Action: Acquisition
Type: New
Accession Number: 000114036125005064
Filing Summary: On February 16, 2025, Tapestry, Inc. entered into a Sale and Purchase Agreement with Caleres, Inc. for the acquisition of Tapestry's Stuart Weitzman business. The Purchaser is set to acquire certain assets and liabilities associated with the global business of designing, marketing, and selling Stuart Weitzman products for a total cash consideration of $105 million, subject to adjustments for items like cash, indebtedness, and transaction expenses. Both parties have agreed to conduct business in the ordinary course until the closing, which is contingent on customary closing conditions including the absence of regulatory prohibitions and the accuracy of representations. There are termination rights in place if the transaction does not close by February 16, 2026, or due to legal obstacles. Furthermore, a Transition Services Agreement will be established at closing, detailing the transition process between Tapestry and Caleres.
Document Link: View Document
Additional details:
Date Of Report: 2025-02-16
Purchase Price: 105 million
Business Acquired: Stuart Weitzman business
Purchaser: Caleres, Inc.
Transaction Conditions: absence of any law preventing the transaction, accuracy of representations and warranties
Termination Rights: transaction must close on or before February 16, 2026, legal prohibitions, breaches of agreements
Transition Services Agreement: to be entered into at closing
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