Pryor Cashman Client Carolina Footwear Acquires Cherokee Global
Pryor Cashman represented Carolina Footwear Group LLC, a full-service footwear company, in a recent acquisition and licensing transaction with Cherokee Global Brands Inc. (NASDAQ: CHKE). In the transaction, Carolina received an exclusive, long-term license to the well-established “HI-TEC” brand and other related brands in connection with the manufacture, marketing and sale of footwear throughout North America. Carolina also acquired all of the U.S. and Canadian footwear inventory and certain other assets related to the business.
The Carolina acquisition from Cherokee was an integral component of a complex, international acquisition in which Cherokee acquired Hi-Tec Sports International Holdings B.V., a Netherlands-based global footwear company.
Representing Carolina Footwear Group LLC in the transaction – which closed on December 7, 2016 – were Pryor Cashman Intellectual Property Partners Brad Rose and Eli Nathanson, Corporate Partner Edward Normandin and Corporate Associate Michelle Pham. Further assistance was provided by Tax Partner Michael Dunworth and Corporate Associate Michelle Arbour.
Aird & Berlis LLP, a Toronto-based law firm and fellow member of Interlaw, advised Carolina on the Canadian aspects of the transaction.
More About Pryor Cashman's M&A Practice
Pryor Cashman’s M&A attorneys advise domestic and international clients from a wide range of industries, including apparel, technology, advertising, pharmaceuticals, energy, software and life sciences, on all varieties of business combinations.
Our team has extensive experience handling joint ventures, strategic alliances, licensing deals, collaborative arrangements, equity and asset purchases, unsolicited leveraged buyouts, spinoffs, recapitalizations, PIPEs and restructurings.
To learn more about our work in this area, please visit our M&A practice page.
