USA: Maxwell Shoe Buys Joan and David For $16.8m
Maxwell Shoe Company Inc, (Nasdaq:MAXS), today announced it has completed the acquisition of a substantial portion of the assets of joan and david helpern, incorporated and JOAN HELPERN DESIGNS, INC for an aggregate $16.8m in cash. Under the terms of the agreement, Maxwell Shoe Company acquired a substantial portion of joan and david helpern, incorporated's assets, including certain inventory, the on-order merchandise, leases for the corporate office, as well as all the trademarks of JOAN HELPERN DESIGNS, INC. Mark J. Cocozza, chairman and CEO of Maxwell Shoe Company, said: "We are excited about the completion of this acquisition as the Joan & David brand presents a number of opportunities for Maxwell Shoe. Specifically, we are committed to investing in the continued development of the brand and have the resources necessary to foster its long-term growth."
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