WHP Global and G-III Complete Acquisition of Marc Jacobs
GIII sits 31% above its 52-week low of $24.61.
Summary
G-III Apparel Group and WHP Global have completed their acquisition of Marc Jacobs. The deal adds a globally recognized fashion brand to G-III's portfolio, expanding its presence in the premium segment. The new joint venture is co-owned by WHP Global and G-III, with each party owning a 50% equity stake. This follows G-III's strong Q1 results and dividend reinstatement, signaling continued strategic expansion. The acquisition is expected to contribute to revenue growth and brand diversification.
At the time of this announcement, GIII was trading at $32.17 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $1.4B. The 52-week trading range was $24.61 to $37.54. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.