By  on January 9, 2020

PVH Corp. has entered into a definitive agreement to sell its Speedo North America business to Pentland Group, the U.K.-based parent company of Speedo International, for $170 million in cash, subject to a working capital adjustment.

Speedo International has licensed the Speedo trademark to a PVH subsidiary (Warnaco Swimwear Inc.) for perpetual use in North America and the Caribbean, which will come to an end. The transaction is expected to close in the first quarter of PVH’s fiscal 2020 year.

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