Quick Take
Genesco (GCO) has announced the proposed acquisition of Togast LLC for up to $67.7 million.
Togast has developed a distribution business for major footwear brands such as Levi's (LEVI) and Dockers.
With the deal, GCO is expanding and deepening its licensed brands segment as the company continues to refocus more tightly on its core businesses.
At the stock’s current level, my bias in BULLISH assuming management can deliver on its most recent guidance for FY 2020 earnings.
Target Company & Market
New York-based Togast was founded to distribute casual