Michael Kors to Buy Jimmy Choo in £896m DealJuly 25, 2017
US firm Michael Kors has agreed to acquire London-based luxury shoemaker Jimmy Choo for £896m.
As part of the agreement, Jimmy Choo will become a “wholly-owned subsidiary” of Michael Kors.
Michael Kors will pay 230p in cash for each Jimmy Choo share.
Michael Kors, who is honorary chairman and chief creative officer at the eponymous label, said: “Jimmy Choo is an iconic premier luxury brand that offers distinctive footwear, handbags and other accessories. We admire the glamorous style and trend-setting nature of Jimmy Choo designs.”
The acquisition is expected to close in the fourth calendar quarter of 2017.