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May 15, 2018

Charlesbank to acquire Rockport’s retail and e-commerce assets

Footwear manufacturer the Rockport Group announced an asset purchase agreement with CB Marathon Opco, an affiliate of Charlesbank Equity Fund IX, in which Charlsbank will acquire all of Rockport’s assets.

Footwear manufacturer the Rockport Group announced an asset purchase agreement with CB Marathon Opco, an affiliate of Charlesbank Equity Fund IX, in which Charlsbank will acquire all of Rockport’s assets.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
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The agreement covers the sale of Rockport’s global wholesale assets, e-commerce platform and retail operations in Asia and Europe.

As part of the deal, Rockport will expand its business in the retail landscape by merging its operations, as well as leveraging the financial strength, consumer expertise and support of Charlesbank.

Following the acquisition, the footwear company will focus on global wholesale, independent retail and e-commerce operations.

"The agreement covers the sale of Rockport’s global wholesale assets, e-commerce platform and retail operations in Asia and Europe."

Rockport and its subsidiaries in the US and Canada have filed voluntary petitions under Chapter 11 of the US Bankruptcy Code in the US Bankruptcy Court for Delaware to facilitate the sale.

As part of the transaction, which is subject to higher bid offers as well as other conditions, Charlesbank will serve as the ‘stalking horse bidder’ in a court-supervised sale process.

Charlesbank will also have the opportunity to evaluate and pursue an acquisition of Rockport’s North American retail operations as part of the agreement.

In addition, Charlesbank is seeking court approval to close certain North American retail stores, which are not acquired by it or another party.

During the sale process, Rockport will continue to operate its business by enabling customers to shop for its brands.

The footwear company’s brands are currently available at department stores and speciality retailers globally, as well as at its e-commerce platform and select retail locations.

To maintain its operations, Rockport received $20m in new-money debtor-in-possession (DIP) financing from its existing noteholders.

The footwear retailer also filed a series of first day motions that will help the company to pay employee wages and benefits, honour customer commitments and manage its operations through the sale process.

 

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.