Polo Ralph Lauren to acquire footwear licensee
Polo Ralph Lauren Corporation has announced that it has signed a definitive agreement to purchase Ralph Lauren Footwear Co., Inc., its global licensee for footwear for men, women and children that is currently a wholly owned subsidiary of Reebok International Ltd.
"We are very excited about the development of a global luxury accessories business and this acquisition moves us closer to that goal. We are assembling the right businesses and people to build our accessories into an important part of our future," said Ralph Lauren, chairman and CEO of the company.
The purchase of Ralph Lauren Footwear is a cash transaction of approximately $110 million, subject to closing adjustments and is subject to review under the customary closing conditions.
