G-III To Acquire Donna Karan From LVMH - Quick Facts

(RTTNews) - G-III Apparel Group, Ltd. (GIII) and LVMH Moët Hennessy Louis Vuitton announced they have entered into a definitive agreement under which G-III will acquire Donna Karan International, Inc., parent of the Donna Karan and DKNY brands and owned by LVMH, in a transaction with an enterprise value of $650 million.

G-III said it does not plan to update financial guidance to reflect the effect of the acquisition until it has closed, although G-III further noted that, excluding purchase accounting charges and other adjustments, it preliminarily expects the acquisition to be dilutive in the fiscal year ending January 31, 2018, and accretive thereafter.