Vedder Thinking | News Vedder Price Represents Merit Capital Partners Portfolio Company in Sale of Knights Apparel to Hanesbrands
March 4, 2015
Vedder Price advised Knights Apparel, Inc., a portfolio company of Merit Capital Partners, in a $200 million sale to Hanesbrands Inc. The transaction will combine Knights Apparel, a seller of licensed collegiate apparel primarily for the mass retail channel, with Hanesbrands, a seller of licensed collegiate apparel in university bookstores, creating an industry-leading organization that will manage and service sports-licensed brands across all channels of distribution. Subject to antitrust review and other customary closing conditions, the deal is expected to close in the second quarter of 2015.
Knights Apparel is owned by Merit Capital Partners, company management and other outside minority investors. Guggenheim Securities, LLC acted as exclusive financial advisor to Knights Apparel.