Pentland Group’s $170 Million Acquisition of Speedo North America Business


Lowenstein Sandler represented PVH Corp. in the transaction.

PVH Corp. (NYSE:PVH), one of the world’s largest apparel companies, has entered into a definitive agreement to sell its Speedo North America business to Pentland Group, parent company of Speedo International Limited, for $170 million in cash, subject to a working capital adjustment.

Speedo International licenses the Speedo trademark to a PVH subsidiary for perpetual use in North America and the Caribbean.

One of the most admired fashion and lifestyle companies in the world, PVH holds a brand portfolio that includes the iconic CALVIN KLEIN, TOMMY HILFIGER, Van Heusen, IZOD, ARROW, Speedo, Warner’s, Olga and Geoffrey Beene brands, as well as the digital-centric True&Co. intimates brand. The company has over 38,000 associates operating in over 40 countries and $9.7 billion in annual revenues.

Pentland Group is a privately-owned global company that owns and invests in, primarily, retail and wholesale businesses in the sports, outdoor and sports fashion sectors.

The Lowenstein deal team included Marita A. Makinen (Picture), Andrew P. Erdmann, Doreen M. Edelman, Andrew E. Graw, Darren Goodman, Mary J. Hildebrand, Matt Savare, Michael Walutes, Jeffrey M. Shapiro, Jack Sidorov, Abbey E. Baker, Manali Joglekar, Justin Gindi, Sophia Mokotoff, Nicole Rae Morales, Bryan Sterba, and Vikram Paul.

The PVH team included Mark Fischer, Jeffrey Hellman, and Meredith Felz (Legal), along with Dana Perlman and Lina Yoo (In-house Deal Makers).

Involved fees earner: Abbey Baker – Lowenstein Sandler LLP; Doreen Edelman – Lowenstein Sandler LLP; Andrew Erdmann – Lowenstein Sandler LLP; Justin Gindi – Lowenstein Sandler LLP; Darren Goodman – Lowenstein Sandler LLP; Andrew Graw – Lowenstein Sandler LLP; Mary Hildebrand – Lowenstein Sandler LLP; Manali Joglekar – Lowenstein Sandler LLP; Marita Makinen – Lowenstein Sandler LLP; Sophia Mokotoff – Lowenstein Sandler LLP; Nicole Rae Morales – Lowenstein Sandler LLP; Matt Savare – Lowenstein Sandler LLP; Jeffrey Shapiro – Lowenstein Sandler LLP; Jack Sidorov – Lowenstein Sandler LLP; Bryan Sterba – Lowenstein Sandler LLP; Michael Walutes – Lowenstein Sandler LLP;

Law Firms: Lowenstein Sandler LLP;

Clients: PVH Corp.;