Levi Strauss & Co. on Sept. 3 said it agreed to acquire all operating assets related to the Levi's and Dockers brands from The Jeans Co., its distributor in Chile, Peru and Bolivia.
The acquisition includes 80 Levi's and Dockers retail shops, the brands' distribution networks and their logistical operations in the South American markets.
"Over the course of our 30-year partnership, TJC has enhanced the market position of the Levi's and Dockers brands in Chile, Peru and Bolivia," Roy Bagattini, Levi Strauss' president of the Americas region, said in a statement. "We believe the acquisition of these assets will build on the strong foundation established by TJC and will position us to accelerate growth across the Andean region."
The move is expected to impact the jeans manufacturer's revenue by about $20 million in the second half of 2019. Levi Strauss has already stopped shipping inventory to The Jeans Co. in anticipation of the transition.
The transaction is expected to close by the end of 2019, subject to a number of closing conditions. Financial terms were not disclosed.
