PVH to sell Speedo North America to Pentland Group

PVH Corp has announced it will be selling its Speedo North America business to Pentland Group, the parent company of Speedo International, for 170 million US dollars. As part of the transaction, the Speedo brand will be licensed in perpetuity to PVH Corp in North America and the Caribbean. The deal is expected to close in the first quarter of 2020.