Genesco (GCO) to acquire Togast LLC
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Genesco to Acquire Leading Footwear Licensee Togast and to Enter into a Levi's Footwear License Agreement
December 18, 2019 5:15 PM ESTNASHVILLE, Tenn., Dec. 18, 2019 /PRNewswire/ -- Genesco Inc. (NYSE: GCO) announced today it has entered into a definitive asset purchase agreement to acquire New York-based Togast LLC ("Togast"), which specializes in the design, sourcing and sale of licensed footwear. The purchase price for the acquisition is $33.7 million in cash at closing, plus up to an additional $34.0 million in cash contingent on the achievement of financial targets over the next four years. The purchase price paid at closing is expected to be funded from cash on hand. The transaction, which is subject... More
