WHP Global-led consortium approved to acquire majority of Express Inc.'s operations
06/17/24, 9:58 PM
Location
new yorkcolumbusIndustry
hardware
consumer electronics
retail
A U.S. bankruptcy judge has approved the sale of the majority of Express Inc.'s operations to a consortium led by brand acquisition and management firm WHP Global, providing a lifeline to the struggling retailer and its hundreds of remaining stores. The offer includes $136 million in cash consideration and $38 million of liabilities, for a combined $174 million, with the deal set to close by June 21.
Company Info
Location
New York, New York, United States
Company info
WHP Global is a leading New York based firm that acquires global consumer brands and invests in high-growth distribution channels including digital commerce platforms and global expansion. WHP owns ANNE KLEIN®, JOSEPH ABBOUD®, JOE’S JEANS®, WILLIAM RAST®, LOTTO®, TOYS"R"US®, and BABIES"R"US®, as well as a controlling interest in the ISAAC MIZRAHI® brand. Collectively the brands generate over $4.2 billion in global retail sales. The company also owns WHP+, a turnkey direct to consumer digital e-commerce platform for brands, with full in-house operations including technology, data analytics, logistics, creative and digital marketing and WHP SOLUTIONS, a sourcing agency based in Asia. For more information, please visit www.whp-global.com.