January 16, 2017
The Oakley parent will combine with French lens manufacturer Essilor in an all stock deal that values LUX at about €22.8 billion ($24.2 billion).
The licensed collegiate headwear maker and blank supplier are combining into Top of the World Holdings, LLC, which has been recapitalized by Blue Point Capital Partners.
The former chairman and CEO of Converse died Jan. 10 from pulmonary fibrosis. He was 85. Gib spent 35 years until 1996 with Converse, the last 10 of them leading the company.
Gildan Apparel, the winning bidder at $88 million for the bankrupt American Apparel operation, began issuing layoff notices to employees at the Los Angeles headquarters and at the nearby South Gate manufacturing facility, according to Reuters.
The Paddlesports Industry Coalition has come on board with the new show organized by Darren Bush and Sutton Bacon, endorsing it as the industry’s national tradeshow.