Tuesday
Mar162010
Phillips-Van Heusen Buys Hilfiger for $3 Billion
Tuesday, March 16, 2010 
Phillips-Van Heusen has purchased Hilfiger for $3 billion in cash and stock.
Phillips-Van Heusen owns Calvin Klein, Arrow, Izod and licenses Kenneth Cole and Geoffrey Beene among other brands.
Although, the deal involves stock, the offer is mostly in cash. Phillips-Van Heusen will assume just under $140 million in liabilities and share 13% with former owner Apax Partners.
The deal allows them to use Hilfiger's European distribution networks to further market their other brands.
Tommy has been getting rid of a lot of things in the past five years.
- Bought his Connecticut home in 2005 for $18 million
- Sold the company to Apax Partners in 2006 for $1.6 billion
- Later purchased a 6,000 square foot duplex for $25 mil in July of 2008, to turn around and sell it for $50 mil two months later.
- Sold his Connecticut manse for $20 million in 2009, after originally listing it for $27.9 mil - giving him a $2 mil profit.
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