Naked Brand Group and Bendon complete merger

Naked Brand Group Inc. and Bendon Limited have completed their previously announced business combination. The company said that the merger agreement was approved by the company’s stockholders on June 11, 2018.

Commenting on the development, Carole Hochman, Holdco’s newly appointed Executive Chairman and Naked’s CEO, said in a statement: “We are thrilled to have completed this business combination thereby creating a powerful portfolio of iconic innerwear, sleepwear, and swimwear brands.”

Under the terms of the Merger Agreement, Naked and Bendon became wholly-owned subsidiaries of a newly formed company, Bendon Group Holding Limited (Holdco), which has been renamed Naked Brand Group Limited, and exchanged their securities for ordinary shares of Holdco.

“We believe this merger will enable the combined company to strengthen its global industry leadership and continue to drive growth over the long-term. Through the use of the US capital markets, we anticipate having financial flexibility to expand distribution networks and further develop our businesses as well as acquire complementary brands,” added Justin Davis-Rice, Holdco’s Chief Executive Officer.

Picture:Facebook/Bendon