Guess? and WHP Global closes acqcuisition of Rag & Bone

Guess?, Inc. (GES) and global brand management firm WHP Global announced Wednesday that they have completed the previously announced acquisition of New York based fashion brand rag & bone.

Under the terms of the transaction, Guess? has contributed 57.1 million dollars towards the purchase of rag & bone, in addition to contributions from WHP Global.

As a result, Guess? now owns all of the rag & bone operating assets, and Guess? and WHP Global jointly own the rag & bone intellectual property.

In connection with the closing of the acquisition, Guess? has entered into an agreement with the lenders of its existing 150 million dollar asset-based revolving credit facility to increase the borrowing capacity under the facility by 50 million to a total of 200 million dollars.(DPA)