Tapestry, Inc. (NYSE: TPR), a house of iconic accessories and lifestyle brands consisting of Coach, Kate Spade, and Stuart Weitzman, and Capri Holdings Limited (NYSE: CPRI), a global fashion luxury group consisting of Versace, Jimmy Choo, and Michael Kors, have announced that they have entered into a definitive agreement under which Tapestry will acquire Capri Holdings. Under the terms of the transaction Capri Holdings shareholders will receive US$57.00 per share in cash for a total enterprise value of approximately US$8.5 billion.
Latham & Watkins LLP represents Tapestry, Inc. in the transaction with a corporate deal team led by New York/Orange County partner Charles Ruck, New York partner Leah Sauter, and Bay Area partner Joshua Dubofsky, with Orange County associates Brian Umanoff, Taylor Ashton, Tiana Baghdikian, Jack Vanderford, Allison (AJ) Blair, Courtney Lem, Viva Jerónimo, Lexi Zintel, Danny Del Giorno, David Stepovich, and Jacob Kempf. Advice was also provided on US antitrust matters by Washington, D.C. partners Amanda Reeves and Lindsey Champlin, with associates Mary Casale and Seung Wan (Andrew) Paik; on foreign antitrust matters by Brussels partner Héctor Armengod, with associate Anna Escrigas Cañameras; on finance matters by New York partner Stephanie Teicher, with associates Daniel Ovadia and Richard Burks; on capital markets matters by Washington, D.C. partners Christopher Bezeg and Jason Licht, with special legal consultant Jack Anderson; on US tax matters by New York partner Eric Kamerman; on UK tax matters by London partner Sean Finn; on US benefits and compensation matters by New York partner Bradd Williamson, with associates Alisa Hand, Charity Wyatt, and Kristen Ierardi; on UK benefits and compensation matters by London partner Kendall Burnett, with associate Erin McKirdy; on France benefits and compensation matters by Paris partner Matthias Rubner, with associate Léo Theillac; on labor and employment matters by Chicago partner Nineveh Alkhas, with associate Laura Waller; on intellectual property matters by Washington, D.C. partner Morgan Brubaker, with associates Ryan Clore, Sanjana Parikh, Lyle Stewart, and Kellye Quirk; on data privacy matters by Bay Area partner Robert Blamires, with associate Kathryn Parsons-Reponte; on ESG matters by New York partner Betty Huber, with associate Austin Pierce; on environmental matters by Los Angeles partner Joshua Marnitz, with associate Phil Sandick; on real estate matters by San Diego partner James Mann, with associate Sterling Swift; on sanctions and trade controls by Washington, D.C. partner Les Carnegie and counsel Andrew Galdes, with associate Matthew Crawford; on anti-bribery and anti-money laundering matters by Washington, D.C. partner Joseph Bargnesi, with associate Michelle Wadolowski; on Italian corporate matters by Milan partner Stefano Sciolla and counsel Giovanni Spedicato, with associate Milena Raffaldi; and on Italian regulatory matters by Milan partner Cesare Milani.
