A team of Haynes and Boone, LLP attorneys assisted Fossil, Inc. in its just-announced agreement to acquire Skagen Designs, Ltd. and certain of its international affiliates for approximately $225 million in cash and 150,000 shares of Fossil common stock. The acquisition, which is subject to certain conditions, including regulatory approval, is expected to be finalized in February.
Skagen Designs is an international company offering contemporary Danish design accessories including watches jewelry, sunglasses and clocks. In addition to its corporate headquarters in Reno, Nev., Skagen Designs and its international affiliates operate regional offices in Denmark, Hong Kong, Germany, the U.K. and Canada. Skagen products are sold in 75 global markets and in company-owned and operated retail stores in Denmark, Germany, the U.K. and Hong Kong.
Randy S. Hyne, Fossil’s vice president and general counsel, led the transaction, assisted by a Haynes and Boone deal team that included Dallas partners Tom Harris and Garrett A. DeVries, and associates David J. Colletti Jr. and Mark J. Robinson Jr.
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