Cherokee receives $33.9mn from sale of finder's fee agreement
02 Nov '06
2 min read
“We've been extremely proud of what we've been able to realize from Mossimo for our shareholders, as a result of all of the prior royalties collected and this multi-million dollar payment. It has been a very profitable relationship for us, and we wish them well under their new ownership with Iconix.”
“This $33.9 million payment will result in the addition of a considerable amount of after-tax excess cash to our already large cash balance, with no debt."
"We look forward to continuing to return excess profits and creating value for our shareholders through the global growth of our owned brands and those we represent, while we stand ready to execute possible future acquisitions of additional brands should they become available at prices we believe to be prudent."
marketing@alchempro.com
