Akin Gump Advises Joe’s Jeans in Pair of Transactions
(New York) – Akin Gump advised Joe’s Jeans Inc. in the sale, announced today, of the Joe’s brand and operating assets for an aggregate purchase price of $80 million to two separate buyers, Sequential Brands Group Inc. and Global Brands Group Holding Limited.
Proceeds from the transactions will be used to retire certain outstanding indebtedness, including all indebtedness owed to Joe’s Jeans’ senior term loan lender. The closings of the asset sale transactions, which are anticipated to occur by September 30, are subject to satisfaction or waiver of certain conditions, including the simultaneous closings of both asset sales.
Akin Gump also advised Joe’s Jeans on a merger of the remaining Hudson business with the parent company of Robert Graham, RG Parent LLC, a nationally recognized fashion brand. The strategic combination of the Robert Graham and Hudson brands will provide the foundation of a new, premium branded consumer platform that focuses on organically growing its owned brands through a global, omni-channel strategy.
Steven Pesner, a partner in Akin Gump’s litigation practice, along with corporate partner Russ Parks and corporate senior counsel Erica McGrady, led the team advising Joe’s Jeans on the transactions. They were joined by the following individuals, listed with their respective practices:
Corporate: Kim Ramsey, Bruce Mendelsohn and Andrew Brady, partners; Sean Gurgle, counsel; John Clayton, associate
Financial Restructuring: David Simonds, partner
Tax: Howard Jacobson, partner; Nyron Persaud, counsel
Intellectual Property: David Lee, senior counsel
Labor and Employment: Greg Knopp, partner; Mark Curiel, senior counsel
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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