PVH Corp.’s AU $268 Million Acquisition Of 100% Of Gazal Corporation Limited

Clifford Chance is advising global fashion business, NYSE-listed PVH Corp. (PVH), on its proposed acquisition of 100% of Gazal Corporation Limited by scheme of arrangement.

Gazal is PVH’s joint venture partner in Australia, New Zealand and other parts of Oceania for the distribution of apparel under certain PVH-owned brands, as well as other owned and licenced brands.

Operating across 40 countries, PVH is one of the world’s largest fashion apparel companies, posting almost US$9 billion in revenue in 2017. It is the owner of iconic brands such as ‘Calvin Klein’ and ‘Tommy Hilfiger’ amongst others. The transaction will result in PVH becoming the owner of the distribution network of its key brands in the region, which includes approximately 71 stores in Australia and 950 employees.

Partner Andrew Crook (Picture) led the matter from Sydney, supported by counsel Reuben van Werkum and Jacob Kahwaji, and senior associate Jonathan Halliwell.

Involved fees earner: Andrew Crook – Clifford Chance; Jonathan Halliwell – Clifford Chance; Jacob Kahwaji – Clifford Chance; Reuben van Werkum – Clifford Chance;

Law Firms: Clifford Chance;

Clients: PVH Corp.;

Author: Michael Patrini