SNEWS Topic: Prana acquired by Liz Clairborne

Welcome Guest (Login),

HOME | ABOUT US | SUBSCRIBE | MANAGE ACCOUNT | CONTACT US

Index | Search | Recent Posts | Settings

Forum Index >> Outdoor >> Prana acquired by Liz Clairborne

Making public an acquisition that SNEWS® had been quietly bird-dogging since Outdoor Retailer Summer Market, Prana announced late in the afternoon on Nov. 3 that it had been acquired by Liz Claiborne. The purchase price was approximately $34.4 million, with an initial payment of $32.5 million and the retirement of debt at closing estimated at $1.9 million. The initial payment represents 60 percent of Prana's current valuation. As has become tradition with any acquisition by Claiborne, co-owners Beaver Theodosakis, Pam Theodosakis, and Demian Kloer are locked into a long-term earn-out with additional payments in fiscal years 2008, 2009 and 2010 based on a multiple of Prana earnings. Insiders told SNEWS® that if Prana performs as well as Claiborne hopes, the final earn-out will be nearly three times sales, which are estimated to be just over $30 million currently.

We're sorry, but you must be logged in to access the SNEWS® Forums.

If you are a SNEWS® and/or Law Review subscriber, log in here. If you're not a subscriber, becoming one is just a click or two away! Go here for subscription information or, simply select "New Account" below to begin the registration process.

We use session cookies to record your password which expire once you log out. Cookies must be enabled for you to log in. You can change your username and password at any time as well as check your account information by clicking on Manage Account in the upper right hand corner of our web site pages once you have logged in.

Forgot your password? Click here.

Username (case sensitive):
Password (case sensitive):
Set cookie to access GearTrends protected areas
Remember this username and password until I log out.