US: Crocs and Blackstone close $200m investment deal
Blackstone will take a 13% stake in Crocs
Shoe firm Crocs Inc has closed a deal that will see private equity firm Blackstone Group make a US$200m investment in the firm.
In connection with the closing of the transaction, Crocs has appointed two new board members and accepted the resignation of two current board members.
The investment, announced earlier this month, will see Blackstone take a 13% stake in the company. On the announcement of the deal, the company revealed its CEO John McCarvel will retire at the end of April.
"With the closing of the transaction and the appointment of our two new directors, we can now turn our attention to recruiting a new CEO and moving forward with refining the strategic direction of the Crocs business," said Thomas Smach, Crocs chairman of the board.
Canadean's "Shoe Carnival, Inc. - Company Capsule" contains in depth information and data about the company and its operations. The profile contains a company overview, key facts, major products and s...
- TPP: now the real fight starts
- Private label sourcing faces range of pressures
- Cambodia leads US apparel import growth in August
- Can Gap maintain its momentum minus Larsson?
- Where next for e-textiles and smart garments?
- Update: Negotiators agree landmark TPP trade deal
- Nike debuts new fabric for adaptive breathability
- New Bangladesh labour rules draw union criticism
- H&M falling behind on Bangladesh factory safety?
- Vietnam releases new textile dye regulations
- Wearable technology: The future market potential for smart garments and e-textiles
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Outdoor performance apparel: peaks, valleys, and green fields
- Global market review of lingerie - forecasts to 2020