Galaxy Universal to Acquire Apex Global Brands

February 16, 2021

Willkie represented Galaxy Universal in the transaction.

On February 16, it was announced that Galaxy Universal will acquire Apex Global Brands Inc. (OTC: APEX), a global brand management and licensing organization that markets a portfolio of high-quality lifestyle brands. Galaxy Universal LLC is a wholesaling, sourcing and brand management company focusing on providing athletic, work and outdoor products to retailers worldwide.

Under the terms of the agreement, which has been unanimously approved by the members of the Apex Board of Directors, Galaxy Universal LLC will acquire all of the outstanding shares of Apex for $2.00 per share in cash. The proposed transaction is subject to the approval by Apex stockholders, along with the satisfaction of other customary closing conditions. Upon completion of the merger, Apex will become wholly owned by Galaxy Universal LLC.

Apex Global Brands is a global brand management and licensing organization that markets a portfolio of high-equity lifestyle brands. The brand portfolio spans multiple consumer product categories and retail tiers around the world and includes Hi-Tec®, Magnum®, 50 Peaks®, Interceptor®, Cherokee®, Tony Hawk®, Point Cove®, Carole Little®, Everyday California® and Sideout®. It currently maintains license agreements with leading retailers and manufacturers that span approximately 140 countries in over 20,000 retail locations and digital commerce.

The Willkie team was led by partners Gregory Astrachan and Jonathan Kubek and included partners Michael Brandt, David Tarr, Jordan Messinger and Spencer Simon.