Plus   Neg

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

Follow RTT