VF Corp., which first acquired one-third of Mo Industries Inc. capital stock last June, has purchased the remaining two-thirds of the Los Angeles-based firm, which owns the Ella Moss and Splendid contemporary brands.
The Greensboro, N.C.-based VF has acquired the firm from its founder, Moise Emquies, and Summit Partners, a private equity and venture capital company. VF is paying $161 million for the remaining two-thirds of Mo Industries, plus the repayment of $47 million in existing net debt, which will be funded through VF’s cash flow from operations. The acquisition agreement in June included a provision allowing VF to acquire the remaining stock in early 2009.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)