---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-208278"
form_type: "8-K"
ticker: "CPRI"
cik: "0001530721"
company_name: "Capri Holdings Ltd"
filed_at: "2023-08-10T23:59:59+00:00"
generated_at: "2026-06-11T17:21:15.172326+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Tapestry to acquire Capri for $8.5B ($57/sh); deal expected to close in CY2024

## Summary
- Tapestry (TPR) to acquire Capri (CPRI) for $57 per share cash; enterprise value ~$8.5B.
- Consideration represents ~59% premium to Capri's 30-day VWAP as of Aug 9, 2023.
- Combined company had >$12B revenue and ~$2B adjusted operating profit in prior fiscal year.
- Expected >$200M run-rate cost synergies within 3 years; deal immediately accretive to Tapestry adjusted EPS.
- Tapestry secured $8B bridge financing; raised dividend 17% to $1.40/sh annually; suspend buybacks to delever.

## SEC filing metadata
- accession: 0001193125-23-208278
- form_type: 8-K
- ticker: CPRI
- cik: 0001530721
- company_name: Capri Holdings Ltd
- filed_at: 2023-08-10T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1530721/000119312523208278/0001193125-23-208278-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1530721/000119312523208278/d532594d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-208278
- JSON: https://secwatch.observer/filing/0001193125-23-208278.json
- Plain text: https://secwatch.observer/filing/0001193125-23-208278.txt

## Key facts
- Material Agreements
  Capri Holdings Ltd entered into Agreement and Plan of Merger with Tapestry, Inc. valued at $57.00 per ordinary share, all-cash consideration (effective 2023-08-10).
  - Action: entry
  - Agreement: merger
  - Counterparty: Tapestry, Inc.
  - Value: $57.00 per ordinary share, all-cash consideration
  - Effective: 2023-08-10
  source text: On August 10, 2023, Capri Holdings Limited (" Capri ") entered into an Agreement and Plan of Merger (the " Merger Agreement ") with Tapestry, Inc., a Maryland corporation (" Tapestry "), and Sunrise Merger Sub, Inc., a British Virgin Islands business company limited by shares and a direct wholly owned subsidiary of Tapestry (" Merger Sub ").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1530721/000119312523208278/0001193125-23-208278-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.