backATLANTA, Feb. 23, 2017 — King & Spalding advised our client Carter’s, Inc. (NYSE: CRI) and its subsidiary in the acquisition of Skip Hop Holdings, Inc. from Fireman Capital Partners, a consumer-focused private equity firm. The total purchase price is $140 million in cash consideration, subject to a working capital adjustment, plus a potential future payment of up to $10 million contingent upon the achievement of certain fiscal targets in 2017.
Carter’s, headquartered in Atlanta, is the largest branded marketer in the United States and Canada of apparel and related products exclusively for babies and young children. The company owns the Carter’s and OshKosh B’gosh brands. These brands are sold in approximately 18,000 wholesale locations, including leading department stores, national chains and specialty retailers domestically and internationally. They are also sold through approximately 1,000 company-operated stores in the United States and Canada and online at www.carters.com, www.oshkoshbgosh.com and www.cartersoshkosh.ca. Skip Hop is a rapidly growing lifestyle brand for parents, babies and toddlers worldwide. Its product portfolio includes diaper bags, kid’s backpacks, travel accessories and home gear.
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The King & Spalding team was led by corporate partners Justin King, Russ Richards and Sam Choy and included corporate associates John Anderson and Robert Swanton. Additional King & Spalding lawyers included Ryan Gorman (executive compensation and employee benefits), Robert Beard (tax), Scott Mario (labor matters), Scott Petty (intellectual property matters and data privacy matters), Mark Wasden (international trade), Jason Jones (FCPA ), Bobby Woo (product liability matters), John Carroll (antitrust matters), Kim Roberts (UK labor and data privacy) and Kelly Nash (UK corporate).
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