Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, August 13, 2021

Article Excerpt

LEVI STRAUSS & CO., $28.06, symbol LEVI on New York, makes denim jeans and related clothing. It mainly sells them through chain retailers, department stores and online sites as well as its own name-branded stores. Worldwide, the company operates around 3,000 name-brand stores. Levi’s went public in March 2019 at $17 a share. The Haas family controls 70% of the company through its ownership of Class B shares, which come with 10 votes per share. On August 5, 2021, Levi Strauss announced the acquisition of Beyond Yoga. The purchase price has not yet been disclosed, but it will add around $100 million in annual revenue. Based in Los Angeles, Beyond Yoga was founded in 2005 by Jodi Guber Brusky, the company’s current Chief Creative Officer, and Michelle Wahler, its CEO. Approximately 86% of its employees are women. Wahler will continue as chief executive of the brand and report to Levi Strauss president and chief executive Chip Bergh. Beyond Yoga aims to offer premium performance…