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Article: PVH SNAGS SUPERBA IN DEAL WORTH $180M.(Phillips-Van Heusen Corp)

Article from:
Daily News Record
Article date:
October 16, 2006
Copyright

NEW YORK - Emanuel Chirico finally got his neckwear company.

Last Wednesday, Phillips-Van Heusen Corp. announced it had entered into a definitive agreement to acquire substantially all of the assets of Superba Inc., a privately held neckwear manufacturer, for $110 million plus an earnout over a three-year period with a maximum value of $70 million. The all-cash transaction, which was orchestrated by Financo Inc., is subject to customary conditions and governmental approvals, and is expected to close on Jan. 1, 2007.

This confirms a report in DNR on Sept. 4.

"This is a natural product extension for us," said Chirico, CEO of PVH, in an interview ...

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