Polo Ralph Lauren to acquire Impact 21 Co.

Polo Ralph Lauren to acquire Impact 21 Co.

Polo Ralph Lauren Corp. has announced their decision to acquire Impact 21 Co. The deal is worth around $345 million and this should help Polo Ralph Lauren expand in the US market.

Polo Ralph Lauren said in its statement that they would be acquiring 80 percent stake in Impact 21. They would buy this share at 2,600 yen per share.

This price is an 18 percent premium to the stock’s closing price on Friday. They would be paying cash for this transaction.

Polo Ralph Lauren further added that they would also be buying the remaining 50 percent interest in Polo Ralph Lauren Japan. This would cost them around USD 23 million.

Roger Farah, Polo Ralph Lauren President and COO added in a statement: “Our long-term strategies are to build Ralph Lauren into a global business that is evenly spread between Europe, United States and Asia.”