Fifth & Pacific agrees to sell IP of Juicy Couture for $195M Fifth & Pacific Companies nounced that it has entered into a definitive agreement to sell the intellectual property of the Juicy Couture brand. Consummation of this transaction is subject to customary closing conditions and is expected to occur in November. William L. McComb, Chief CEO of Fifth & Pacific Companies, said: "We announced that we have signed an agreement to sell the intellectual property of the Juicy Couture brand to Authentic Brands Group for $195M, payable in cash. With this sale, we have also entered into a short-term licensing agreement with Authentic Brands Group that allows us to transition the business in an orderly fashion through the first half of 2014, with a $10M guaranteed minimum royalty payable to Authentic Brands Group.
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Fifth & Pacific price target raised to $40 from $34 at Sterne Agee Sterne Agee believes Fifth & Pacific will be able to more effectively focus on its Kate Spade brand and lower its costs following the divestitures of Lucky Brand and Juicy Couture. The firm raised its price target on F&P to $40 and maintains a Buy rating on the stock.