Apax Partners Completes Acquisition Of Cole Haan; Industry Veteran Jack Boys
Named As Cole Haan's CEO
NEW YORK and LONDON, Feb. 1, 2013
NEW YORK and LONDON, Feb. 1, 2013 /PRNewswire/ --Funds advised by Apax
Partners, a global private equity firm, today announced that they have
completed the previously announced acquisition of Cole Haan LLC, a leading
designer and retailer of premium footwear and related accessories, from NIKE,
In connection with the closing, Jack A. Boys has been named Chief Executive
Officer of Cole Haan, effective immediately. Mr. Boys previously served for
10 years as the CEO of Converse, Inc. and led its revitalization into a
fast-growing global lifestyle brand. Prior to Converse, Mr. Boys created and
implemented the "Never Stop Exploring" brand and merchandisestrategy that led
to the successful turnaround and aggressive revenue growth for TheNorth Face
Mr. Boys said, "I am thrilled to work with the Cole Haan team to build on the
brand's incredible legacy. From the time Trafton Cole and Eddie Haan launched
the business 85 years ago, Cole Haan has established a history of outstanding
craftsmanship, innovative design and exceptional quality. Now, as an
independent company, we have an exciting opportunity to expand upon the Cole
Haan tradition, deliver new, consumer-driven products and grow as a lifestyle
brand with a global footprint."
"We are very pleased to be partnering with Jack and the employees of Cole Haan
as the company embarks on the next chapter of its growth," said John Megrue,
Chief Executive Officer of Apax Partners U.S. and Partner in the Retail &
Consumer team. "Cole Haan is an iconic brand, and we look forward to working
together in support of its continued expansion."
Alex Pellegrini, a Partner in Apax's Retail & Consumer team, said, "We see
tremendous opportunities for Cole Haan and are excited to partner with Jack
Boys to take the business to the next level. Jack has an extraordinary track
record of successfully developing and growing global lifestyle brands. His
leadership and experience will be invaluable as we focus on unlocking the
potential of this brand both in the U.S. and abroad."
Jefferies & Company, Inc. acted as financial advisor and provided financing to
Apax. Kirkland & Ellis LLP provided legal advice and Ernst & Young provided
accounting and tax advice.
About Jack Boys
As CEO of Converse, Inc. from 2001 through 2010, Mr. Boys, led the team that
turned around one of the most enduring American brands. He oversaw the
successful integration of Converse with NIKE, Inc. after NIKE acquired
Converse in 2003, and was responsible for working with his NIKE partners to
continue building and developing the Converse brand. Prior to Converse, he
was Vice President, global marketing at The North Face, Inc. In addition, Mr.
Boys has years of experience, including serving in senior executive
capacities, at Avia, an athletic footwear company, LeCoq Sportif, an apparel
company, and CVEO Corporation. He holds a B.A., Business Administration,
Southern Methodist University, 1981.
About Cole Haan
Cole Haan, headquartered in New York, is an iconic American designer and
retailer of premium men's and women's footwear, apparel and accessories.
Founded in 1928, Cole Haan's brand represents craftsmanship, style and
innovation. The company sells through leading department stores, 108 domestic
Cole Haan stores, 68 international stores across Canada, China and Japan and
its online site www.colehaan.com.
About Apax Partners
Apax Partners is one of the world's leading private equity investment groups.
It operates globally and has more than 30 years of investing experience.
Funds under the advice of Apax Partners total over $35 billion around the
world. These Funds provide long-term equity financing to build and strengthen
world-class companies. Apax Partners Funds invest in companies across its
global sectors of Tech & Telecom, Retail & Consumer, Media, Healthcare and
Financial & Business Services.
Apax has extensive experience in fashion apparel, footwear and accessories
through current and previous investments including Tommy Hilfiger Corporation,
an apparel retail company and one of the world's leading lifestyle brands,
which was acquired by PVH Corp. Apax also partnered with PVH in the company's
successful acquisition of Calvin Klein. The firm's Retail & Consumer team
oversees current investments including rue21, Inc., a leading a leading
specialty apparel retailer, and Advantage Sales & Marketing, the premier
outsourced sales and marketing services provider to consumer packaged goods
companies and retailers in North America. Internationally, funds advised by
the firm are currently invested in New Look, a UK-based value fashion retailer
and Takko, a value apparel retailer operating in Germany, Central Europe and
Russia. Prior Apax investments also include Tommy Bahama, Dollar Tree Stores
and The Children's Place.
Tel: +44 (0)20 7872 6401
Kekst and Company
Tel: +1212 521 4854
SOURCE Apax Partners
Press spacebar to pause and continue. Press esc to stop.