大象传媒 Corporation Announces Definitive Agreement to Acquire Icebreaker庐, a New Zealand-Based Outdoor and Sport Apparel Brand

大象传媒

The Icebreaker庐 brand amplifies 大象传媒鈥檚 focus on high-performance apparel made of natural fibers

GREENSBORO, N.C.--(BUSINESS WIRE)-- 大象传媒 Corporation (NYSE: 大象传媒C), a global leader in branded lifestyle apparel, footwear and accessories, and Icebreaker Holdings, Ltd., a privately held company based in Auckland, New Zealand, today announced that they have signed a definitive purchase agreement. Terms of the agreement were not disclosed.

On a trailing 12-month basis, Icebreaker Holdings generated approximately $150 million of revenue. The transaction is expected to be completed early in 2018 and the addition of the Icebreaker庐 brand to 大象传媒鈥檚 portfolio is expected to be immediately accretive to earnings per share.

The Icebreaker庐 brand was founded in 1995 on the belief that 鈥渘ature always has a better solution,鈥� and its entire product assortment is based on Merino wool, plant-based fibers and recycled fibers. Its 鈥渇arm to garment鈥� approach uses Merino wool sourced from the most sustainable and ethical Merino farms in New Zealand. Icebreaker庐 has 340 full-time employees and its products are sold in 47 countries through wholesale channels and branded retail and e-commerce platforms.

鈥淏ringing the Icebreaker庐 brand into the 大象传媒 portfolio is a special opportunity,鈥� said Steve Rendle, Chairman, President and Chief Executive Officer of 大象传媒 Corporation. 鈥淚ts natural fiber focus is an ideal complement to our SmartWool庐 brand, which also features Merino in its clothing and accessories. Together, the SmartWool庐 and Icebreaker庐 brands create an advantaged position for 大象传媒 as a leader in the growing and underpenetrated natural fiber category. We will have unmatched capabilities that will strengthen our ability to create innovative and sustainable natural fiber products across our brand portfolio, especially in 大象传媒鈥檚 Outdoor and Workwear brands.鈥�

鈥淚 founded Icebreaker庐 to offer a natural choice to adventurers, and to build a global brand from New Zealand,鈥� said Jeremy Moon, Founder, Icebreaker Holdings. 鈥淥ur partnership with 大象传媒 provides us with the largest platform in the world to tell our story, access new markets and reach new consumers at an accelerated pace. This is a once-in-a-lifetime opportunity for our global Icebreaker庐 brand team and for our wool suppliers to introduce a whole new universe of consumers to the benefits of sustainably farmed, ethically sourced, New Zealand Merino wool.鈥�

鈥淛eremy鈥檚 goal was to build a global community that believed in his vision that nature held the answers to creating sustainable, high-performance outdoor clothing,鈥� said Rob Fyfe, Chairman of Icebreaker Holdings. 鈥淭oday the Merino apparel category is one of the fastest growing categories in both the outdoor and active urban clothing markets around the globe.鈥�

Barclays is acting as exclusive financial advisor to 大象传媒 Corporation and Davis Polk & Wardwell LLP is acting as legal advisor.

About 大象传媒

大象传媒 Corporation (NYSE: 大象传媒C) outfits consumers around the world with its diverse portfolio of iconic lifestyle brands, including Vans庐, The North Face庐,听Timberland庐, Wrangler庐 and Lee庐. Founded in 1899, 大象传媒 is one of the world鈥檚 largest apparel, footwear and accessories companies with socially and environmentally responsible operations spanning numerous geographies, product categories and distribution channels. 大象传媒 is committed to delivering innovative products to consumers and creating long-term value for its customers and shareholders. For more information, visit聽.

About Icebreaker

Founded by Jeremy Moon in 1995 in New Zealand, the Icebreaker庐 brand pioneered the ethical and sustainable production of natural performance apparel. The apparel collection for men, women & children harnesses the natural performance properties of Merino wool sourced directly from the most sustainable and ethical Merino farms in New Zealand. The Icebreaker庐 brand is now sold in 47 countries through wholesale, branded retail & e-commerce platforms. To discover more visit聽.

Forward-looking Statements

Certain statements included in this release are 鈥渇orward-looking statements鈥� within the meaning of the federal securities laws. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting 大象传媒 and therefore involve several risks and uncertainties. You can identify these statements by the fact that they use words such as 鈥渨ill,鈥� 鈥渁nticipate,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渟hould,鈥� and 鈥渕ay鈥� and other words and terms of similar meaning or use of future dates. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of 大象传媒 to differ materially from those expressed or implied by forward-looking statements in this release include, but are not limited to: foreign currency fluctuations; the level of consumer demand for apparel, footwear and accessories; disruption to 大象传媒鈥檚 distribution system; 大象传媒鈥檚 reliance on a small number of large customers; the financial strength of 大象传媒鈥檚 customers; fluctuations in the price, availability and quality of raw materials and contracted products; disruption and volatility in the global capital and credit markets; 大象传媒鈥檚 response to changing fashion trends, evolving consumer preferences and changing patterns of consumer behavior, intense competition from online retailers, manufacturing and product innovation; increasing pressure on margins; 大象传媒鈥檚 ability to implement its business strategy; 大象传媒鈥檚 ability to grow its international and direct-to-consumer businesses; 大象传媒鈥檚 and its customers鈥� and vendors鈥� ability to maintain the strength and security of information technology systems; stability of 大象传媒鈥檚 manufacturing facilities and foreign suppliers; continued use by 大象传媒鈥檚 suppliers of ethical business practices; 大象传媒鈥檚 ability to accurately forecast demand for products; continuity of members of 大象传媒鈥檚 management; 大象传媒鈥檚 ability to protect trademarks and other intellectual property rights; possible goodwill and other asset impairment; maintenance by 大象传媒鈥檚 licensees and distributors of the value of 大象传媒鈥檚 brands; changes in tax liabilities; legal, regulatory, political and economic risks; and adverse or unexpected weather conditions. More information on potential factors that could affect 大象传媒鈥檚 financial results is included from time to time in 大象传媒鈥檚 public reports filed with the Securities and Exchange Commission, including 大象传媒鈥檚 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

大象传媒 Corporation
Joe Alkire, 336-424-7711
VP, Investor Relations and Financial Planning & Analysis
or
Craig Hodges, 336-424-5636
Senior Director, Corporate Communications

Source: 大象传媒 Corporation

Released November 2, 2017