Los Angeles Apparel Retailer Guess Inc. Receives Offer to Go Private
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Guess Inc., the Los Angeles-based apparel brand, could go private in a deal proposed by WHP Global to acquire the company for $13.00 per share. The company formed a special committee of independent and disinterested directors of its board to evaluate the proposal.
The proposal could lead to a definitive offer that would be financed through a combination of equity and third-party debt financing, and the ownership interest of certain shareholders – including Paul Marciano, Maurice Marciano and Carlos Alberini – would roll over into the private company.
The deal expands on a partnership formed in April 2024, when the two companies partnered to acquire the intellectual property and operating assets of New York-based fashion brand rag & bone.
As of November 2024, Guess directly operated 1,057 retail stores in Europe, the Americas and Asia while the company’s partners and distributors operated 541 additional retail stores.
Information for this article was sourced from Guess Inc.