Deals
Authentic Brands Buys Izod, Van Heusen in $220 Million Deal
Van Heusen store in Kolkata.
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Authentic Brands Group LLC, the owner of businesses such as Brooks Brothers and Forever 21, agreed to buy the heritage brands unit of PVH Corp. in a $220 million deal.
The cash transaction includes brands such as Izod, Geoffrey Beene and PVH’s namesake Van Heusen, the companies said Wednesday in a statement. The deal is expected to close in the third quarter of PVH’s current fiscal year. PVH will retain brands such as Tommy Hilfiger and Calvin Klein.