USA: Liz Claiborne Closes PrAna Buy
Apparel group Liz Claiborne has completed the acquisition of outdoor and active apparel brand Skylark Sport Marketing Corporation (prAna).
PrAna designs, markets and wholesales lifestyle apparel and accessories for activities such as climbing and yoga. The brand is expected to bring in 2005 sales of about $30 million.
The purchase price for PrAna was previously reported to be $34.4m plus additional payments based upon prAna's earnings in financial years 2008, 2009 and 2010.
Liz Claiborne designs and markets an extensive range of women's and men's fashion apparel and accessories. The group launched an unsolicited bid to buy the J Jill upscale apparel group on Friday.
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