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News | 05.21.15

Keystone Group Holding, LLC Completes Acquisition of the Hugo Boss Tailored Clothing Factory

May 21, 2015 - Morrison Cohen client Keystone Group Holding, LLC completed its acquisition of the Hugo Boss tailored clothing factory in Brooklyn, Ohio. The transaction was initially announced in March 2015 to great fanfare by U.S. Senator Sherrod Brown, who arranged the first meeting between executives at Keystone with Hugo Boss leadership. Structured as an asset sale, the deal will ensure continued domestic manufacturing jobs for the numerous unionized and nonunionized factory employees.

Key to the success of the acquisition was the Morrison Cohen team's strategic advice involving deal structure, complex multiemployer pension plan withdrawal liability issues, counterparty course changes and last minute renegotiation of terms, all of which were pivotal to the completion of the deal.
 

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