True Religion will be privatized

True Religion Apparel Inc (NASDAQ: TRLG), the top US jeans maker, announced Friday that it has agreed to accept the acquisition of private-equity firm TowerBrook Capital Partners LP at a deal price of about $ 835 million.

Under the terms of the agreement, TowerBrook will pay $ 32 cash per share for True Religion shares, which is about 9% higher than the Thursday’s closing price of $ 29.44, compared with October 9 last year, the company announces a 52% The

The transaction has been approved by the True Religion Board of Directors and is subject to approval by the shareholders of the company.

True Religion was founded in December 2002 and headquartered in Los Angeles, where its jeans are 100% manufactured and handmade in US dollars between $ 172 and $ 363, most of which is between $ 250 and $ 300.

The company has about 900 boutiques and specialty stores in 50 countries on six continents, and its flagship store is located in Manhattan Beach, California, and its first retail store, opened at the end of 2005. In addition, the company’s products are also sold in major department stores. Charlie – Ceron, Jennifer – Lopez and Madonna and other stars are True Religion products fans.