BZUN - Baozun acquires Gap Greater China in an all-cash transaction

• Baozun ( NASDAQ: BZUN ) to acquire Gap Greater China, wholly owned by Gap Inc. in an all-cash transaction with a primary consideration in the amount of $40M within the limit of $50M.
• The move to drive sustainable growth, Baozun has established Baozun Brand Management as a new business line that intends to leverage its dominant portfolio of technologies at the service of brands, to engage in longer and deeper relationships with brands.
• The Acquisition of Gap Greater China
• On November 8, 2022 Baozun’s wholly-owned subsidiary, White Horse Hongkong Holding Limited, entered into a share purchase agreement with Gap Inc. and Gap (UK Holdings) Limited for the acquisition of the entire equity interests of two of its operating entities, which operate the whole business of Gap Greater China.
• The acquisition is expected to be effective in the first half of 2023.
• Concurrently, affiliates of Baozun and Gap entered into a series of business arrangements through which Gap grants Baozun the right to manufacture, market, distribute and sell Gap products in Greater China with local creation capabilities on an exclusive basis.
• The duration of these business arrangements totals 20 years, with an initial term of 10 years (renewed twice with each renewal of a five-year term).

For further details see: