Lands' End to sell 50% of IPCo to WHP for $300M; tender offer for up to $100M of stock

LANDS' END, INC.

WHP will purchase 50% of newly formed IPCo (holding Lands' End brand IP) for $300M cash; proceeds used to repay term loan.
WHP will commence tender offer for up to 2,222,222 shares at $45/share (~$100M aggregate); expected to own ~7% of LE post-offer.
Lands' End will license back IP from IPCo under a royalty-bearing license with a $50M/yr guaranteed minimum royalty for first 11 years.
Closing subject to HSR, other conditions; outside date October 26, 2026. WHP financing committed by Morgan Stanley.
Voting agreements with controlling stockholder Edward Lampert to support future WHP Topco monetization events.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

LANDS' END, INC. entered into Membership Interest Purchase Agreement with WHP Borrower, LLC; WHP Topco, L.P. (d/b/a WHP Global); LEWHP LLC valued at $300 million in cash (effective 2026-01-26).

Action: entry
Agreement: asset purchase
Counterparty: WHP Borrower, LLC; WHP Topco, L.P. (d/b/a WHP Global); LEWHP LLC
Value: $300 million in cash
Effective: 2026-01-26

Exact text from the filing

On January 26, 2026, Lands’ End, Inc., a Delaware corporation (the “ Company ”), entered into a Membership Interest Purchase Agreement (the “ MIPA ”)

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LANDS' END, INC. filing history →

Source: SEC EDGAR

accession 0001104659-26-006603

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