Perry Ellis International will acquire designer of women’s sportswear products, Rafaella Apparel Group, for $70 million, Reuters reports. Perry Ellis will also issue warrants to purchase about 106,564 common shares.
The company will finance the deal through its senior credit facility and cash on hand. Financo has been appointed to act as the lead advisor to Rafaella Apparel Group. Cerberus Capital Management is selling the company, adds The Wall Street Journal.
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