The Children's Place To Acquire Gymboree Assets - Quick Facts

(RTTNews) - The Children's Place, Inc. (PLCE) announced that, as part of an auction held in connection with Gymboree's bankruptcy proceeding, a wholly-owned subsidiary of the company has entered into an Asset Purchase Agreement with Gymboree Group, Inc. and related entities to acquire intellectual property and related assets of Gymboree and Crazy 8 for $76 million in cash. The Gymboree assets include the worldwide rights to the names "Gymboree" and "Crazy 8" and other intellectual property, including trademarks, domain names, design rights, and customer databases.

The Children's Place expects the acquisition to be accretive to adjusted EPS beginning in fiscal 2020 following low teens percentage dilution to fiscal 2019 adjusted EPS.