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WHP Global-led consortium approved to acquire majority of Express Inc.'s operations

Jun 17, 2024•over 1 year ago

Acquiring Company

WHP Global

Acquired Company

Express

New YorkColumbusHardwareConsumer ElectronicsRetail

Description

A U.S. bankruptcy judge has approved the sale of the majority of Express Inc.'s operations to a consortium led by brand acquisition and management firm WHP Global, providing a lifeline to the struggling retailer and its hundreds of remaining stores. The offer includes $136 million in cash consideration and $38 million of liabilities, for a combined $174 million, with the deal set to close by June 21.

Company Information

Company

WHP Global

Location

New York, New York, United States

About

WHP Global is a leading New York based firm that acquires global consumer brands and invests in high-growth distribution channels including digital commerce platforms and global expansion. WHP owns ANNE KLEIN®, JOSEPH ABBOUD®, JOE’S JEANS®, WILLIAM RAST®, LOTTO®, TOYS"R"US®, and BABIES"R"US®, as well as a controlling interest in the ISAAC MIZRAHI® brand. Collectively the brands generate over $4.2 billion in global retail sales. The company also owns WHP+, a turnkey direct to consumer digital e-commerce platform for brands, with full in-house operations including technology, data analytics, logistics, creative and digital marketing and WHP SOLUTIONS, a sourcing agency based in Asia. For more information, please visit www.whp-global.com.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed