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Stock Market & Financial Investment News

News Breaks
August 14, 2014
16:04 EDTSHOOSteven Madden acquires Dolce Vita Holdings for $60.3M in cash
Steve Madden announced that it has completed the acquisition of privately held Dolce Vita Holdings, which specializes in the design, sourcing and sale of branded and private label footwear. Dolce Vita had net sales in 2013 of approximately $111M. The acquisition was completed for $60.3M in cash subject to a working capital adjustment plus an earn-out provision based on future financial performance. The transaction is expected to be 2c-3c dilutive to EPS in FY14 and to be modestly accretive in FY15.
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September 30, 2014
07:33 EDTSHOOSteven Madden to acquire Mexico licensee
Steve Madden announced that it has signed a definitive agreement to acquire Trendy Imports S.A. de C.V., Comercial Diecisiette S.A. de C.V., and Maximus Designer Shoes S.A. de C.V., together, known as “SM Mexico”. As Steve Madden’s Mexican licensee, SM Mexico markets Steve Madden products in Mexico in the wholesale channel as well as in Steve Madden-branded retail stores. The purchase is a cash transaction for approximately $15M, subject to a working capital adjustment, plus repayment of a short term loan and an earn-out provision based on future financial performance. The transaction is expected to close in January 2015 and is expected to be accretive, contributing approximately 2c-3c in diluted EPS in 2015.

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