M&A Deal Summary

Nike Acquires Converse

On July 9, 2003, Nike acquired apparel/textiles company Converse from Perseus for 305M USD

Acquisition Highlights
  • This is Nike’s 3rd transaction in the Apparel/Textiles sector.
  • This is Nike’s 3rd largest (disclosed) transaction.
  • This is Nike’s 4th transaction in the United States.
  • This is Nike’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2003-07-09
Target Converse
Sector Apparel/Textiles
Buyer(s) Nike
Sellers(s) Perseus
Deal Type Add-on Acquisition
Deal Value 305M USD

Target

Converse

Boston, Massachusetts, United States
Converse, Inc. is a designer, marketer, licenser and distributor of athletic footwear and related merchandise.

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Buyer(S) 1

Buyer

Nike

Beaverton, Oregon, United States
Category Company
Founded 1964
Sector Apparel/Textiles
Employees79,100
Revenue 51.2B USD (2023)
DESCRIPTION

Nike is a designer, marketer, and distributor of authentic athletic footwear, apparel, equipment, and accessories for a wide variety of sports and fitness activities. Nike was founded in 1964 and is based in Beaverton, Oregon.

DEAL STATS #
Overall 4 of 11
Sector (Apparel/Textiles) 3 of 5
Type (Add-on Acquisition) 4 of 11
State (Massachusetts) 1 of 2
Country (United States) 4 of 9
Year (2003) 1 of 1
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-05-12 Hurley

Costa Mesa, California, United States

Founded in1982, Hurley is a clothing company focused on skateboarders and surfers based in Costa Mesa, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-08-12 Starter

United States

Founded in 1971, Starter pioneered the league licensed apparel business and is currently licensed to several manufacturer/wholesalers selling primarily to Wal-Mart in the United States, Canada and Mexico.

Buy $43M

Seller(S) 1

SELLER

Perseus

Washington, District of Columbia, United States
Category Merchant Bank
Founded 1995
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Perseus is a private equity firm focused on middle-market buyouts, recapitalizations, and growth equity investments. Perseus looks businesses operating with proven management, strong brands, and 'powerful intellectual property'. Sectors of interest include biotechnology, medical devices, branded consumer products, business services, information technology, communications, and energy/environmental service companies. Perseus was formed in 1995 and maintains offices in Washington DC, New York City, and Munich.

DEAL STATS #
Overall 12 of 31
Sector (Apparel/Textiles) 1 of 2
Type (Add-on Acquisition) 10 of 22
State (Massachusetts) 3 of 5
Country (United States) 11 of 26
Year (2003) 1 of 1
Size (of disclosed) 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-06-18 ImageWare Systems

San Diego, California, United States

ImageWare Systems, Inc. is a provider in software solutions for digital imaging, biometrics, law enforcement and secure credentials. Through its ID product line, ImageWare applies its core technology to create secure identification systems for airports, universities, government agencies and private businesses.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-02-02 WorkflowOne

Dayton, Ohio, United States

WorkflowOne provides a wide range of products and services including business documents, electronic print and mail solutions, branded merchandise, label solutions, sales and marketing collateral, and distribution services.

Buy -
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