Acquisition of True Religion Apparel CompletedTuesday, July 30, 2013
True Religion Apparel Inc. said Tuesday that TowerBrook Capital Partners L.P. had completed its $824 million acquisition of the Vernon designer denim maker.
The New York- and London-based investment management firm is paying $32 a share to shareholders, who approved the deal at a special meeting on Monday.
True Religion had been exploring strategic alternatives since last fall. TowerBrook has significant experience in the consumer retail and luxury space, with investments in companies such as Jimmy Choo, Odlo, BevMo! and Phase Eight.
True Religion shares stopped trading on the Nasdaq at the close of the trading day today.