WHP Global to Acquire a 50 Percent Stake in Lands’ End Brand

Group 1 - WHP Global has acquired a 50 percent stake in a joint venture holding Lands' End's intellectual property for $300 million, allowing Lands' End to fully repay a term loan and positioning the brand for growth [1][2] - Following the announcement, Lands' End's shares surged over 33 percent to $18.76, with the deal expected to unlock the value of Lands' End's intellectual property and strengthen its balance sheet [2] - Lands' End will contribute all its intellectual property and related assets to the joint venture, while WHP Global will lead the global licensing strategy and brand expansion [3][4] Group 2 - The joint venture will be equally owned by Lands' End and WHP Global, aimed at maximizing the value of Lands' End's intellectual property through WHP Global's expertise and global licensee network [4] - WHP Global plans to initiate a tender offer for up to $100 million of Lands' End shares at a price of $45 per share [4] - Lands' End's net revenue for the third quarter was $317.5 million, a slight decrease of $1.1 million, while adjusted net income rose to $6.5 million from $1.8 million year-over-year [6]