LANDS' END, INC. (LE): M&A transaction — Lands' End completes JV with WHP Global, receives $300M, repays $234M term loan

LANDS' END, INC.

Lands' End contributed brand IP to JV, sold 50% controlling interest for $300M cash.
Proceeds used to fully repay $234M term loan, cutting interest expense and strengthening balance sheet.
WHP Global completed tender offer for ~$100M of LE shares at $45/share (7.2% of shares).
License agreement: LEDM pays minimum $50M/yr royalty to JV; initial term 10 years plus renewals.
Lands' End retains operational control of DTC and B2B; potential to exchange JV stake for WHP Global equity.

item 1.01 item 1.02 item 2.01 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

LANDS' END, INC. completed a disposition involving WHP (WH Borrower, LLC / LEWHP, LLC) for $300 million in cash (closed 2026-04-01).

Action: disposition
Counterparty: WHP (WH Borrower, LLC / LEWHP, LLC)
Consideration: $300 million in cash
Closing: 2026-04-01

Exact text from the filing

to WHP for an aggregate purchase price of $300 million in cash

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

LANDS' END, INC. entered into License Agreement with LE Topco, LEDM, Company valued at royalty-bearing license for Licensed IPR to design, manufacture, sell, promote Licensed Products in (effective 2026-01-26).

Action: entry
Agreement: license
Counterparty: LE Topco, LEDM, Company
Value: royalty-bearing license for Licensed IPR to design, manufacture, sell, promote Licensed Products in
Effective: 2026-01-26

Exact text from the filing

At the closing of the Transactions, the Company, LEDM and LE Topco entered into a License Agreement (the “ License Agreement ”), pursuant to which LE Topco granted LEDM a royalty-bearing license under the intellectual property rights contributed by Sellers to LE Topco

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

LANDS' END, INC. entered into Limited Liability Company Agreement with LE Topco, Sellers, WHP, WHP Topco valued at LLCA governs LE Topco with Class A Units, Sellers owning 50%, WHP owning 50%, board of managers with (effective 2026-01-26).

Action: entry
Counterparty: LE Topco, Sellers, WHP, WHP Topco
Value: LLCA governs LE Topco with Class A Units, Sellers owning 50%, WHP owning 50%, board of managers with
Effective: 2026-01-26

Exact text from the filing

At the closing of the Transactions, Sellers, LE Topco, WHP and WHP Topco entered into the amended and restated limited liability company agreement of LE Topco among LE Topco, Sellers, WHP and, solely for purposes of certain sections enumerated therein, WHP Topco (the “ LLCA ”)

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LANDS' END, INC. filing history →

Source: SEC EDGAR

accession 0001104659-26-038270

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