WHP Global Kicking Tires at Guess?, Inc.

The Guess?, Inc. (Guess) Board of Directors has received a non-binding proposal from WHP Global through its affiliate WHP Investments, LLC, to acquire for $13.00 per share in cash the outstanding shares of Guess?, Inc., other than shares held by certain existing shareholders, including Paul Marciano, Maurice Marciano and Carlos Alberini (collectively, the Proposed Rollover Shareholders).

WHP Global owns the Lotto Sport Italia S.p.A. brand globally and made a play for the Champion brand before Authentic Brands Group’s successful acquisition bid. WHP also acquired, in partnership with Express, Inc., the Bonobos brand from Walmart, Inc. in April 2023.

The Guess proposal contemplates that the proposed transaction would be financed through a combination of equity and third-party debt financing, as well as rollover or reinvestment by each of the Proposed Rollover Shareholders. It assumes that the company will operate in the ordinary course of business and that there will be no material change to its strategic and operational position.

Guess? has formed a Special Committee of independent and disinterested directors of the Board (Special Committee) to evaluate the proposal, with the assistance of outside financial and legal advisors, to determine the course of action that is in the best interest of Guess? and its shareholders.

There is no guarantee that any definitive offer will be made, that any agreement will be executed or that the proposed transaction in the proposal or any other transaction will be approved or completed. Guess? does not intend to comment further on this matter until the Special Committee has completed its proposal evaluation or until further disclosure is deemed appropriate. Guess? shareholders do not need to take any action at this time.

In April 2024, Guess partnered with WHP Global to acquire the intellectual property and operating assets of New York-based fashion brand Rag & Bone, said to be “a leader in the American fashion scene,” with Guess directly operating Rag & Bone stores in the U.S. and in the U.K., and also having Rag & Bone available in high-end boutiques, department stores and through e-commerce globally.

As of November 2, 2024, Guess?, Inc. directly operated 1,057 retail stores in Europe, the Americas and Asia. The company’s partners and distributors operated 541 additional retail stores worldwide.

Image courtesy Guess?, Inc.