Thursday, March 28, 2024
ADVT 
National

Aritzia signs deal to buy Reigning Champ

Darpan News Desk The Canadian Press, 15 Jun, 2021 09:37 AM
  • Aritzia signs deal to buy Reigning Champ

Clothing designer and retailer Aritzia Inc. says it has signed an agreement to buy a Reigning Champ, a designer and manufacturer of premium athletic wear.

Under the agreement, Aritzia will acquire a 75 per cent stake in the company based on an enterprise value of approximately $63 million.

The remaining 25 per cent interest held by Reigning Champ's management shareholders will be converted into Aritzia shares in up to three instalments from 2024 to 2026.

Aritzia chief executive Brian Hill says the deal accelerates the company's expansion into men's clothing.

Reigning Champ's senior leadership team will continue operating the business in partnership with Aritzia through a transition period of approximately five years.

The deal is expected to be completed later this month, subject to customary closing conditions and approvals.

 

MORE National ARTICLES

Uppal apologizes for role in divisive policies

Uppal apologizes for role in divisive policies
A former Conservative cabinet minister is apologizing for not pushing against his party's culturally divisive polices of the Stephen Harper era, including an effort to ban face coverings during citizenship ceremonies.

Uppal apologizes for role in divisive policies

Trudeau wants NATO unity on China, Russia

Trudeau wants NATO unity on China, Russia
Canada's prime minister used his time at a summit of political and military allies underlining the need to present a united front against Russia, China and the general threat of authoritarianism.

Trudeau wants NATO unity on China, Russia

Canada won't take more doses from COVAX

Canada won't take more doses from COVAX
Canada has contracts to buy more than 251 million doses of seven different vaccines from vaccine makers, more than three times what it needs to fully immunize every Canadian.

Canada won't take more doses from COVAX

Business leaders demand border reopening plan now

Business leaders demand border reopening plan now
Business leaders are calling on Ottawa to immediately lay out a comprehensive plan to reopen the economy and international borders along with a vaccine certification process.

Business leaders demand border reopening plan now

B.C. woman seriously hurt in traffic stop

B.C. woman seriously hurt in traffic stop
The Independent Investigations Office says an officer ordered the woman who was riding an electric scooter to pull over late Saturday.

B.C. woman seriously hurt in traffic stop

Province outlines stage 2 of the Restart Plan

Province outlines stage 2 of the Restart Plan
British Columbia is moving to Step 2 of the Restart plan as of June 15. BC ban on travel within BC will be lifted tomorrow. Province still asking people not to travel outside the province. Movie theatres will open tomorrow.

Province outlines stage 2 of the Restart Plan