boohoo.com plc Nasty Gal Acquisition Update

boohoo.com plc

boohoo.com plc (LON:BOO) announced on 28 December 2016 that it had entered into an asset purchase agreement (“the proposed transaction”) to acquire certain intellectual property assets and customer databases from retailer Nasty Gal Inc. (“Nasty Gal”) for US$20 million. The Group confirms that the US Bankruptcy Court has approved the process for the sale of the Nasty Gal assets.

As previously announced, the proposed transaction will be governed by a court approved bidding process. The closing date for bids will be 2 February 2017. The Group’s bid may not result in a transaction if higher or more favourable offers are obtained by Nasty Gal during the auction process.

If the Group is successful in acquiring Nasty Gal, the proposed transaction will be subject to final approval by the US courts expected on or around 8 February 2017. The Board believes the proposed transaction has the potential to accelerate the Group’s international growth, particularly in the US, building on boohoo’s existing customer reach and product range across the globe.
Keeping one step ahead of the trends or making a subtle style change is easy with boohoo.com and with up to 100 new pieces hitting the site every day and a new collection each week, boohoo.com never stops – it is 24/7 fashion at its best. From the UK’s best kept fashion secret to one of the fastest growing international retailers, boohoo.com has quickly evolved into a global fashion leader of its generation. Combining cutting-edge, aspirational design with an affordable price tag, boohoo.com has been pushing boundaries since 2006 to bring its customers all the latest looks for less.

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