Regions

Arvind has sealed a deal to purchase a 49% interest in Calvin Klein India, according to sources familiar with the deal. The transaction is valued at INR100 crore, wrote The Economic Times.

The stake that Arvind acquired was jointly owned by the Murjani Group and American private equity firm Matrix Partners. Murjani held a 25% stake in the venture while Matrix held the remaining 24%, the report detailed.

Arvind currently has a partnership with US-based clothing firm Phillips-Van Heusen Corp for a contract with Tommy Hilfiger. The finalized deal will help Arvind strengthen this partnership. The transaction will also help propel Arvind into international growth through deals with overseas brands, the report stated.

Excalibur, Flying Machine, Colt, and Newport are among the brands under Arvind. The company also owns marketing rights to other brands such as Cherokee, Megamart, Arrow, and Polo, said the report.

The stake buyout deal was closed five days ago. Ambit Corporate Finance served as the sole advisor in the transaction, The Economic Times reported.