Tommy Hilfiger acquired by Phillips-Van Heusen

-- Home Textiles Today, 3/15/2010 11:13:00 AM

New York – Phillips-Van Heusen Corporation, owner of the Calvin Klein brand, will acquired Tommy Hilfiger from Apax Partners funds for approximately $3.0 billion and the assumption of $136.7 million in liabilities. The deal will push PVH’s global business to about $4.6 billion, the company said.

Tommy Hilfiger's revenue for the fiscal year ending March 31is expected to be around $2.25 billion, with earnings before interest and taxes of approximately $280 million, according to a PVH release. Only about 2% is derived from licensing income, a revenue stream that includes contributions from the Tommy Hilfiger Home Collection, the textiles portion of which is produced by DWI Holdings.

In addition to Calvin Klein and Tommy Hilgifer, other PVH brands that have licensing extensions into home textiles include Izod, Michael Kors, Joseph Abboud and DKNY.