Pryor Cashman served as lead counsel to newly launched brand management platform WHP Global on its just-announced acquisition of legacy women's fashion brand Anne Klein. Generating $700 million in global retail sales, Anne Klein was previously owned by Premier Brands Group. The transaction closed July 16, 2019.
Backed by a $200 million equity commitment from Oaktree Capital Management, WHP Global will acquire and manage multiple global consumer brands, leveraging a shared platform to unlock competitive advantages at scale and fuel growth for each distinctive brand in its portfolio. It plans to deploy up to $1 billion in capital over the next five years.
Pryor Cashman has advised global brands on several major acquisitions in recent years, including Camuto Group's $341 million sale to DSW Inc. in November 2018 and sbe Entertainment Group's $319 million deal to sell a 50% interest to AccorHotels in October.
News of WHP Global's acquisition of Anne Klein was reported by WWD, Fortune and PE Hub, among other outlets.
The Pryor Cashman Team
Advising WHP Global on the acquisiton were Pryor Cashman partners Brad D. Rose, head of the firm's Intellectual Property Group, John Crowe, co-head of the Corporate Group, Teresa Lee, co-head of the Trademark practice, Jeffrey Johnson, Eli Nathanson and James O'Brien, Jr. Counsel Robert Lamonica and Philippe Zylberg, and associates Eric Wisotsky, Mark Zhuang and Colinford Mattis also assisted on the deal.
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