Global brand management group WHP Global has announced that it has acquired a majority interest in denim label G-Star Raw as the brand sets its sights on further global growth and expansion.
While the terms of the agreement were not disclosed, it was noted that existing G-Star shareholders, including founder Jos van Tilburg, will continue to retain a stake in the label.
On the takeover, Van Tilburg said in a release: “In WHP Global, we experience the right strategic and financial partner for further global and sustainable growth in the decades to come, while staying true to our signature product, our dedicated teams, and our loyal business partners.”
Current chief executive officer Rob Schilder will go ahead operating the brand’s marketing and product development functions, as well as other areas of G-Star’s operations from its Amsterdam headquarters.
G-Star eyes US market and category expansions
Schilder also commented on the acquisition, adding that G-Star planned to harness WHP’s expertise to expedite the brand’s expansion, by strengthening its presence in the US and tapping into new geographies and product categories.
With this latest takeover, WHP Global’s portfolio of brands has seen its retail sales expand to over seven billion dollars, driven largely by an acquisition spree it carried out over the past few years.
Most recently, the firm has snapped up the likes of Lotto, Joe’s Jeans and Bonobos, and has established a notable joint venture with Express, with each of the deals having helped to build on its reach and international presence.
In March 2023, WHP also reported that it had secured a 375 million dollar investment to support its “next wave” of brand acquisitions, in a bid to capitalise on the currently robust merger and acquisition market.
WHP’s G-Star transaction is expected to close in Q4 2023 as it still is currently subject to customary closing conditions.