Guess to go private in US$1.4 billion deal with Authentic Brands, co-founders and CEO
Guess said on Wednesday it has agreed to be taken private by a group, including its co-founders, CEO and Reebok-owner Authentic Brands, in a deal valuing the designer apparel brand at US$1.4 billion, including debt.
As part of the transaction, co-founders Maurice Marciano and Paul Marciano, and CEO Carlos Alberini have partnered with Authentic Brands, which will acquire 51 per cent of all Guess' intellectual property. Guess' existing shareholders will own the rest.
Guess shareholders will receive US$16.75 per share in cash, representing a 26 per cent premium to Tuesday's close.
Its shares jumped nearly 26 per cent at US$16.77 in early trading. They have lost about 38 per cent over the last 12 months amid tough competition for consumer dollars and economic uncertainty.
The deal is the latest in a wave of M&A activities among apparel and footwear companies, including 3G Capital's agreement to take Skechers private, Dick's Sporting Goods' announcement to acquire Foot Locker, and Authentic Brands' purchase of Dockers from Levi Strauss & Co earlier this year.
Taking Guess private will provide the company with greater flexibility to navigate today's complex operating environment and pursue a more focused, long-term strategy, the company said.
Prior to the deal announcement, its co-founders and CEO together owned roughly 40.18 per cent of the company, with Paul Marciano holding 28 per cent, according to data compiled by LSEG.
Guess had received a US$13-per-share take-private offer from brand management firm WHP Global in March. It had then formed a special committee to evaluate the proposal.
'The special committee evaluated a number of potential options and unanimously determined that the transaction with Authentic and (existing shareholders) is the best path forward for Guess,' said Alex Yemenidjian, chairman of the special committee.
The deal is expected to close in the fourth quarter of fiscal year 2026, subject to regulatory approvals.
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Reporting by Savyata Mishra in Bengaluru; Editing by Shilpi Majumdar
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