US: Ex-Reebok CEO buys stake in Hudson jeans brand
Fireman Capital Partners (FCP), a private equity firm set up by Reebok's former CEO Paul Fireman, has partnered with Webster Capital to buy a controlling stake in upmarket denim company Hudson Jeans.
The deal, which is worth around $30m, seeks to expand the Los Angeles-based jeans firm into a leading apparel brand in the US and global market.
"Achieving the potential the business has today is not a foregone conclusion and will require a great deal of thought and hard work," said FCP Chairman Paul Fireman.
While Don Steiner, managing partner of Webster Capital added: "We believe that Hudson has great management, a strong market position, loyal customers and an opportunity to build a leading apparel brand."
Founded in 2002, Hudson jeans have attracted a celebrity following and can be found in select stores and premium boutiques in over 25 countries worldwide.
The company's founder and CEO, Peter Kim said the new alliance "brings invaluable expertise, infrastructure, and financing - all the elements needed to take Hudson Jeans to new heights."
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