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New Look Eyewear Inc Agrees To Acquire Vogue Optical

Wednesday, 20 Nov 2013 04:49pm EST 

New Look Eyewear Inc announced that it has entered into definitive agreements to acquire the assets and business of Vogue Optical Inc. of Charlottetown, Prince Edward Island. The purchase price of the assets and business of Vogue Optical will be $74 million subject to normal price adjustments. In connection with this transaction, New Look has entered into various financing arrangements providing for (i) a senior secured debt facility of up to $75 million with a syndicate of major Canadian banks (comprised of an acquisition term facility of up to $65 million and a $10 million revolving facility), and (ii) a maximum of $25 million of equity financing. In addition, New Look has entered into an arrangement for a $15 million junior unsecured debt facility with a Qu├ębec-based fund which may be used to finance a portion of the acquisition purchase price and thereby reduce the draw on the acquisition term facility referred to above. 

Company Quote

19 Dec 2014