It came down to the wire as two private equity firms were bidding to own Nike’s Cole Haan division. After serious offers being thrown around by TPG Capital and Apax Partners, the latter came out with an offer of $570 million, which blew away the projected high bid of $518 million. With the popularity of LunarGrand collection early this year, it’s not likely that they will let the success come to an abrupt end. Cole Haan could potentially still use the Lunarlon soles through a licensing deal with Nike.
[via wwd]
