A deal has been inked between Canada-based global lifestyle brand for both women and men, Naked Brand Group Inc. and privately held Bendon Limited – a world leader in intimate apparel and an iconic New Zealand company – for merger.
According to the agreement, Naked and Bendon will become wholly-owned subsidiaries of Bendon Group Holdings Limited, a newly formed Australian holding company (Holdco).
“We are pleased to have reached a definitive agreement with Bendon, which is the culmination of much hard work,” said Carole Hochman, Naked’s CEO and Chief Creative Officer, adding, “We believe that this merger is structured to benefit our shareholders as well as the go-forward business. We look forward to closing this transaction in due course.”
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Naked Brand Group and Bendon Limited announced Letter of Intent to merge in January this year. “This transformative merger will create a powerful portfolio of iconic innerwear, sleepwear, and swimwear brands. We believe this merger will enable the combined company to strengthen its global industry leadership and continue to drive growth over the long term,” said Justin Davis-Rice, Executive Chairman of Bendon.
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