M&A Deal Summary

Oxford Industries Acquires Johnny Was

On September 19, 2022, Oxford Industries acquired apparel/textiles company Johnny Was from Endeavour Capital for 270M USD

Acquisition Highlights
  • This is Oxford Industries’ 3rd transaction in the Apparel/Textiles sector.
  • This is Oxford Industries’ largest (disclosed) transaction.
  • This is Oxford Industries’ 5th transaction in the United States.
  • This is Oxford Industries’ 1st transaction in California.

M&A Deal Summary

Date 2022-09-19
Target Johnny Was
Sector Apparel/Textiles
Buyer(s) Oxford Industries
Sellers(s) Endeavour Capital
Deal Type Add-on Acquisition
Deal Value 270M USD
Advisor(s) Financo (Financial)
Buchalter Nemer (Legal)

Target

Johnny Was

Los Angeles, California, United States
website
Johnny Was designs, markets, and sells “boho chic,” “vintage-inspired” women’s apparel and accessories in the U.S. and internationally through wholesale, retail, and e-commerce channels. Johnny Was was founded in 1987 and is based in Los Angeles, California.

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Buyer(S) 1

Buyer

Oxford Industries

Atlanta, Georgia, United States

website


Category Company
Founded 1942
Sector Apparel/Textiles
Employees4,700
Revenue 1.1B USD (2022)
DESCRIPTION

Oxford Industries is an apparel design, sourcing and marketing company featuring a diverse portfolio of owned and licensed brands and a collection of private label apparel businesses. Oxford's brands include Tommy Bahama, Ben Sherman, Lilly Pulitzer, Oxford Golf, Arnold Brant and Billy London. Oxford Industries was founded in 1942 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 5 of 5
Sector (Apparel/Textiles) 3 of 3
Type (Add-on Acquisition) 5 of 5
State (California) 1 of 1
Country (United States) 5 of 5
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-01 Strong Suit Clothing

Little Rock, Arkansas, United States

Strong Suit Clothing is a men's apparel company, that designs and makes clothing for men that include suits, blazers, vests, tuxedos, trousers, shirts and ties. Strong Suit Clothing was founded in 2014 and is based in Little Rock, Arkansas.

Buy -

Seller(S) 1

SELLER

Endeavour Capital

Portland, Oregon, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1991
PE ASSETS 925M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Endeavour Capital LLC is a private equity firm that targets service and manufacturing companies headquartered in the Western United States. Endeavour looks to invest with and an enterprise value of $25 -$250 million with an EBITDA of $5-$50 million. Prospective companies are generally profitable with at least $5 million of EBITDA. Supported investment situations include growth capital financings, industry consolidations, management acquisitions, recapitalizations, and ownership transfers. The firm invests in the range of $25-$100 million per transaction. Areas Endeavour will not invest include real estate and emerging technology. Endeavour Capital was formed in 1991 and is based in Portland, Oregon with additional offices in Seattle, Washington, and Los Angeles, California.


DEAL STATS #
Overall 29 of 30
Sector (Apparel/Textiles) 1 of 1
Type (Add-on Acquisition) 12 of 13
State (California) 6 of 6
Country (United States) 29 of 29
Year (2022) 1 of 1
Size (of disclosed) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-15 Oregon Freeze Dry

Albany, Oregon, United States

Oregon Freeze Dry is a freeze-dried foods company. The Company's freeze-dried ingredients are key components in the products of some of America’s largest food companies. OFD private label lines include such products as lunch and dinner entrees for the Nutri/System weight-loss program. Oregon Freeze Dry was founded in 1963 and is based in Albany, Oregon.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-04 Crefact

Japan

Crefact is a manufacturer of automotive exhaust systems, fuel tanks and other automotive body parts. Crefact has advanced manufacturing capabilities to meet stringent demands from the market on the purification of exhaust gases and noise reductions, as well as requirements from leading Japanese automotive OEMs. Crefact was founded in 1967 and is based in Japan.

Sell -