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December 23, 2005
Apax Picks Up Hilfiger For $1.6B
Private equity firm Apax Partners has swiped up Tommy Hilfiger Corp. for $1.6 billion in cash. Hilfiger, which includes the Tommy Hilfiger and Karl Lagerfeld brands, rounds out Apax’s diverse investments in assets such as Tommy Bahama, Phillips-Van Heusen and others.
With the Hilfiger buy Apax hopes to tap further into the luxury market. It plans to continue to grow Hilfiger worldwide and has retained the company’s founder and namesake as principal designer and chairman of strategy and design.
The deal is expected to close by Spring 2006.
Posted by Blacks on December 23, 2005 12:23 PM
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