Sun Capital Announces Acquisition of Kellwood
20 Febrero 2008 - 9:00AM
Business Wire
Sun Capital Securities Group, LLC today announced the successful
completion of the acquisition of Kellwood Company (NYSE: KWD) for
approximately $767 million, including the assumption of Kellwood�s
net debt. The transaction was consummated through a cash tender
offer by Cardinal Integrated, LLC, a wholly-owned subsidiary of Sun
Capital, followed by a short-form merger of a subsidiary of
Cardinal Integrated with and into Kellwood. As a result of this
acquisition, Kellwood becomes a wholly-owned subsidiary of Cardinal
Integrated. Jason Bernzweig, Vice President of Sun Capital, said
�We are pleased to announce the successful completion of Sun
Capital�s acquisition of Kellwood. We are eager to continue
fostering our relationship with Kellwood�s management and employees
and complete a smooth transition process, which is already
underway.� At the time of the merger, all outstanding shares of
Kellwood common stock not validly tendered and accepted for payment
in the tender offer were converted, subject to appraisal rights,
into the right to receive $21.00 per share in cash (the same price
paid in the tender offer). The paying agent for the merger will
mail to the remaining former shareholders of Kellwood materials
necessary to exchange their former Kellwood shares for such
payment. As a result of the merger, Kellwood�s common stock will be
delisted and will cease to trade on the New York Stock Exchange.
About Sun Capital Sun Capital Partners, Inc. is a leading private
investment firm focused on leveraged buyouts, equity, debt, and
other investments in market-leading companies that can benefit from
its in-house operating professionals and experience. Sun Capital
affiliates have invested in and managed more than 180 companies
worldwide with combined sales in excess of $35.0 billion since Sun
Capital's inception in 1995. Sun Capital has offices in Boca Raton,
Los Angeles, and New York, and affiliates with offices in London,
Tokyo, and Shenzhen.
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