Land’s End and WHP Global complete joint venture to accelerate brand expansion

Lands’ End and WHP Global today announced the successful creation of their joint venture. Lands’ End contributed all intellectual property associated with the Lands’ End brand to the JV and received $300M in cash from WHP Global for a 50% controlling interest. The company said it has used the majority of the proceeds to fully repay its $234M term loan. WHP Global also completed a tender offer for approximately $100M of Lands’ End shares at $45.00 per share. Following the tender offer, WHP Global owns approximately 7% of Lands’ End’s outstanding shares of common stock.