Firm Advises on $3 Billion Acquisition of Tommy Hilfiger B.V.

March 15, 2010

Willkie serves as counsel to Peter J. Solomon Company L.P., financial advisor to Phillips-Van Heusen Corporation, in PVH’s proposed acquisition.

On March 15, apparel giant Phillips-Van Heusen Corporation announced a definitive agreement to acquire Tommy Hilfiger B.V. from private equity group Apax Partners L.P. for $3.17 billion in cash and assumed debt. Willkie served as counsel to Peter J. Solomon Company L.P., financial advisor to PVH. The consideration includes €1.924 billion in cash and €276 million in PVH common stock. The combination will create one of the world's largest and most profitable apparel companies -- a global business with combined revenue of approximately $4.6 billion.

The Tommy Hilfiger Group of Companies, which includes Tommy Hilfiger and Hilfiger Denim, is one of the world's most recognized designer apparel groups. PVH is the world's largest shirt and neckwear company and markets a variety of goods under its own brands, Van Heusen, Calvin Klein, IZOD, ARROW, Bass and G.H. Bass & Co., and its licensed brands, including Tommy Hilfiger, Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, unlisted, A Kenneth Cole Production, MICHAEL Michael Kors, Sean John, Chaps, Donald J. Trump Signature Collection, JOE Joseph Abboud, DKNY and Timberland. The deal was handled by partners Steven Seidman and Laura Delanoy, and associates Sean Ewen and Stephen O'Connor.