Cherokee is acquiring the Tony Hawk and Hawk apparel brands from Quiksilver for an all-cash price of $19 million. Quiksilver has owned the brands since 2000. Kohl’s will continue to be the exclusive U.S. DTR licensee for Tony Hawk and Hawk clothing and accessories. JPMorgan Chase Bank established a new credit agreement with Cherokee to finance the purchase. Quiksilver has been divesting non-core brands and moving to a licensing-centric business model. Cherokee will seek to expand the Hawk brands to department and specialty stores globally.
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