PVH sells Warners, Olga and True & Co. to Basic Resources for $160M cash plus earnout

PVH CORP. /DE/

All-cash purchase price of $160M, subject to adjustment, plus earnout up to $10M based on 2024 net sales.
Transaction expected to close at end of November 2023, subject to standard closing conditions.
Net proceeds to be used for share repurchases; deal reflects PVH+ Plan focus on Calvin Klein and Tommy Hilfiger.
Basic Resources is a private family-owned apparel manufacturer, long-time partner of PVH.
Transaction continues divestiture of non-core brands; Solomon Partners advised PVH.

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