Phillips-Van Heusen to acquire Tommy Hilfiger brand
Phillips-Van Heusen Corporation has agreed to acquire the Tommy Hilfiger brand from private equity firm Apax Partners for $3 billion. Funds advised by Apax have controlled the brand since May 2006. PVH will pay $2.2 billion in cash and $800 million in stock for the fashion brand. The deal is expected to close during this year’s second quarter.
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