Pryor Cashman Closes Three Major Apparel Deals
Pryor Cashman, one of the leading law firms in the apparel industry, recently closed three major apparel merger and acquisition transactions in a span of only a few weeks.
Sale of Adrienne Victoria Designs, Inc. to Cache, Inc.
Pryor Cashman represented long-time client Adrienne Victoria Designs, Inc., a privately held apparel design, sourcing and manufacturing company, in the sale of the company to Cache, Inc. (NASDAQ: CACH), a nationwide mall-based women’s apparel retailer and the largest customer of Adrienne Victoria. The transaction, which closed on July 3, 2007, was valued at $16 million including installment payments and contingent earn-out payments.
Partner Michael Goldberg, who has represented Adrienne Victoria for the past decade, and Corporate Partner Rich Frazer negotiated with Cache and completed the transaction.
Acquisition of Dana Undies by Intradeco, Inc.
Pryor Cashman represented Intradeco, Inc., a Miami, Florida based apparel manufacturer that supplies quality casual clothing and thermal underwear to major retailers in the U.S., Canada and Mexico, in its acquisition of Dana Undies, a large manufacturer of small children’s clothes and underwear.
Partner Rich Frazer worked on the transaction with Partner Ken Schulman, a leading apparel industry attorney, who regularly represents Intradeco. The transaction closed as of June 11, 2007.
Acquisition of Terramar Sports Worldwide, Ltd. by Lamour Inc.
Pryor Cashman represented Lamour Inc., an international apparel marketing and manufacturing company based in Montreal, Canada, in its acquisition of Terramar Sports Worldwide, Ltd., a manufacturer of silk and micro fiber thermal underwear and related accessories.
Corporate Partner Rich Frazer worked on the transaction, assisted by Partner James O’Brien. The transaction closed on July 2, 2007.
