Tapestry says ‘working expeditiously’ to close Capri Holdings deal in 2024

“On August 10, 2023, Tapestry (TPR) announced a definitive agreement to acquire Capri Holdings (CPRI), establishing a powerful global house of iconic luxury and fashion brands. Importantly, this transaction will bring significant benefits to the combined company’s customers, employees, partners, and shareholders around the world. Further, the acquisition builds on Tapestry’s track record as a consumer-centric brand-builder and disciplined operator and accelerates its strategic and financial growth agenda. On April 22, 2024, the Federal Trade Commission filed a lawsuit in an attempt to block the proposed acquisition. The company is confident in the merits and pro-competitive, pro-consumer nature of this transaction and looks forward to presenting its strong legal arguments in court, working expeditiously to close the transaction in calendar year 2024.”