Exclusive: Differential to Buy GBG’s North American Business

In a blockbuster $1.38 billion deal, Differential Brands Group Inc., has inked a definitive agreement to acquire a significant part of Global Brands Group Holding Ltd.’s North American licensing business.
The deal brings together Differential’s Hudson, Robert Graham and Swims brands with GBG’s Disney, Star Wars, Calvin Klein, Under Armour, Tommy Hilfiger, BCBG, bebe, Joe’s, Buffalo David Bitton, Frye, Michael Kors, Cole Haan and Kenneth Cole labels.
Upon closing, which is expected in the third quarter, Differential will have in excess of $2.3 billion in pro forma annual revenue in men’s, women’s, and children’s apparel and accessories.
William Sweedler, chairman of Differential and managing partner of Tengram Capital Partners LP, which played a pivotal role in bringing the parties together said: “On behalf of the board, I am thrilled that we were able to structure a transaction with the Fung family to acquire one of the leading branded consumer soft goods companies in North America with a world class management team led by Jason Rabin.” 
Sweedler said Rabin and his team “plan to invest significant capital into this transaction, which will transform Differential into a large scale North American branded platform.” Rabin, president of GBG North America, said he was eager “to join Differential Brands Group and lead our combined platform by leveraging our expansive infrastructure, distribution and sourcing networks to drive growth, and we look forward to working with the Differential management team and Tengram to help support the company’s growth as it capitalizes on promising market opportunities. We are proud

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