Sheppard Mullin represented South Korean fashion and retail group E-Land Footwear USA Holdings Inc. on the deal
Leading PRC-based professional sportswear enterprise Xtep International Holdings Limited, through its wholly-owned subsidiary, has entered into a Stock Purchase Agreement with E-Land WorldCompany,Ltd. and E-Land USA Holdings Inc., whereby Xtep will acquire all the outstanding shares of the capital stock of E-Land Footwear USA Holdings Inc., the ultimate owner ofK-Swiss, PalladiumandSuprabrands, for a cash consideration of US$260 million.
The Acquisition will be financed by internal resources and is expected to be completed by the end of July 2019.
The Group considers the Acquisition as an attractive opportunity to invest in a portfolio of globally renowned sportswear and lifestyle brands targeting the high-end market segment.
In particular, K-Swiss, a heritage athletic shoe brand founded in California in 1966, offers performance tennis footwear, lifestyle and fitness footwear meeting the high performance demands of world-class athletes and trendsetters.
As for Palladium, it is also one of the best known global pampa boot brands established in France in 1947.
The Brandscurrently havea global presence covering more than 80 countries and territories.
Sheppard Mullin represented South Korean fashion and retail group E-Land Footwear USA Holdings Inc. with a team led by partner Ariel Yehezkel (Picture) and special counsel Jeffrey Taylor, included partners Seth (Byoung Soo) Kim and Keith R. Gercken and associates Harrison H. Kang, John G. Crisp, and Allison Troianos.
Involved fees earner: John Crisp – Sheppard Mullin; Harrison Kang – Sheppard Mullin; Seth Kim – Sheppard Mullin; Jeffrey Taylor – Sheppard Mullin; Allison Wu Troianos – Sheppard Mullin; Ariel Yehezkel – Sheppard Mullin;
Law Firms: Sheppard Mullin;
Clients: E.LAND Co., Ltd.;