(RTTNews) - Guess?, Inc. (GES) and global brand management firm WHP Global announced Wednesday that they have completed the previously announced acquisition of New York based fashion brand rag & bone.
Under the terms of the transaction, Guess? has contributed $57.1 million towards the purchase of rag & bone, in addition to contributions from WHP Global.
As a result, Guess? now owns all of the rag & bone operating assets, and Guess? and WHP Global jointly own the rag & bone intellectual property.
In connection with the closing of the acquisition, Guess? has entered into an agreement with the lenders of its existing $150 million asset-based revolving credit facility to increase the borrowing capacity under the facility by $50 million to a total of $200 million.
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