PVH to buy Gazal Corp.[M&A] PVH Corp, the parent company of Calvin Klein and Tommy Hilfiger among others, is buying its licensing partner in Australia, Gazal Corp, for AU$124 million (approx. €77.58 million).
The deal, which still needs to be approved, will see PVH acquire the remaining 78 percent of Gazal that it doesn’t already own along with its five-year-old joint venture with Gazal, PVH Brands Australia, which holds licenses for various PVH-owned brands in Australia, New Zealand and other parts of Oceania.
About PHV :
PVH Corp., formerly known as the Phillips-Van Heusen Corporation, is an American clothing company which owns brands such as Van Heusen, Tommy Hilfiger, Calvin Klein, IZOD, Arrow, Warner’s, Olga, True & Co., and Geoffrey Beene. The company also licenses brands such as BCBG Max Azria, Chaps, Sean John, Kenneth Cole New York, JOE Joseph Abboud, Michael Kors, and Speedo (the latter under an exclusive perpetual license from Speedo International for the North American market). PVH is partly named after Dutch immigrant John Manning Van Heusen, who in 1910 invented a new process that fused cloth on a curve.
PVH Corp. has its main headquarters in Manhattan, with administrative offices in Bridgewater, New Jersey; Las Vegas, Nevada and Los Angeles, California. Additional distribution facilities in the United States are located in Brinkley, Arkansas; McDonough, Georgia; Jonesville, North Carolina; Reading, Pennsylvania; and Chattanooga, Tennessee.
PVH has several sourcing facilities worldwide, located in Bangladesh, India, Pakistan, Sri Lanka, China, Honduras, Hong Kong, Indonesia, Vietnam, Philippines, Malaysia, Mongolia, Singapore, Thailand, Ethiopia, Kenya, and Taiwan. The corporation employs over 12,000 people worldwide.
The company organizes its brands into three primary divisions – Calvin Klein, Tommy Hilfiger, and Heritage Brands, the latter which encompasses the Van Heusen, Izod, Arrow, Warner’s, Olga, Speedo, True & Co., and Geoffrey Beene brands.