logo
Plus   Neg
Share
Email

Vera Bradley To Acquire Majority Stake In Pura Vida - Quick Facts

Vera Bradley, Inc. (VRA) has agreed to purchase 75% ownership of Creative Genius, Inc. (which operates under the name Pura Vida) for $75 million, and up to $22.5 million in incremental earnout consideration. Vera Bradley has the right to acquire the remaining stake five years post-closing. Vera Bradley expects the deal to be accretive to earnings in fiscal 2020.

Robert Wallstrom, CEO of Vera Bradley, said, "The acquisition of Pura Vida is a terrific fit for Vera Bradley as we move into Year Two of our Vision 20/20 strategic plan and focus on growth."

Pura Vida will operate as a subsidiary of Vera Bradley, and will continue to be led by Thall and Goodman.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Department of Justice has reached a settlement agreement with a Texas-based Taco Bell franchise owner for immigration-related discrimination against certain employees. The settlement resolves the DOJ's investigation into whether MUY Brands LLC, and a related management company, MUY Consulting Inc., violated the Immigration and Nationality Act. Starbucks is gearing up for the upcoming holiday season by introducing its 2019 holiday flavors in U.S. grocery stores. The launch of the coffee giant's holiday line-up this year includes returning holiday favorites as well as a new item. Customers can now take home products that are making a comeback such as Starbucks Holiday Blend K-Cup and Ground Coffee, Peppermint Mocha Flavored Ground Coffee, Peekay International issued a recall of 7 ounce and 14 ounce packs containing Keshav Dry Apricot food treats as they contain undeclared allergens such as sulfites, according to a statement published by The U.S. Food and Drug Administration. Consumption of the product by those allergic or having severe sensitivity to sulfites could run the risk of serious or life-threatening allergic reactions.
Follow RTT
>