Loeb & Loeb Advises Xtep International in Acquisition of Ownership Interest in Saucony Asia IP Holdco

Loeb & Loeb advised Xtep International Holdings Limited in its acquisition of 40% ownership interest in Gemini Asia Saucony, LLC, a Delaware limited liability company that holds, licenses and manages the intellectual property rights associated with the Saucony brand, and the formation of a new joint venture arrangement for the management and operation of Saucony Asia IP Holdco. The Loeb deal team strategically advised Xtep International on the call options to further acquire the remaining ownership interest in Saucony Asia IP Holdco.

The aggregate consideration in respect of these transactions amounted to approximately $61 million.  

The Loeb deal team was led by Capital Markets & Corporate partners Lewis Ho, Michael Fung and Jeffrey Kung and included Daniel Besikof, deputy chair of the Restructuring & Bankruptcy department; Capital Markets & Corporate partner Ross Emmerman, counsel Steve Woo and associate Alice Wong; and Finance associate Nate Minott. 

For further details about the transaction, please see Xtep International’s announcement.