Apex Global Brands has announced an agreement to be acquired by Galaxy Universal for US$2.00 per share in an all cash deal, reports ILM.
Apex Global Brands, global brand management and licensing organisation with a portfolio of lifestyle brands has entered into a merger agreement with Galaxy Universal. Under the terms of the agreement, which has been unanimously approved by members of the Apex Board of Directors, Galaxy Universal is to acquire all of the outstanding shares of Apex for $2.00 per share in cash. The closing of the acquisition is expected to occur in the second quarter of 2021.
Apex Global Brands’ portfolio spans multiple consumer product categories and retail tiers around the world and includes Hi-Tec, Magnum, 50 Peaks, Interceptor, Cherokee, Tony Hawk, Point Cove, Carole Little, Everyday California and Sideout. The company currently maintains license agreements with leading retailers and manufacturers that span approximately 140 countries in over 20,000 retail locations and digital commerce. Galaxy Universal is a wholesaling, sourcing and brand management company that focuses on the athletic, work and outdoor categories.