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Subsequent Events
6 Months Ended
Jul. 31, 2021
Subsequent Events [Abstract]  
Subsequent Events

15. Subsequent Events

Acquisition of WSS

On August 1, 2021, we signed a definitive agreement to acquire Eurostar, Inc., a Delaware corporation (“WSS”). WSS is a U.S.-based athletic footwear and apparel retailer, which operates 93 stores primarily on the West Coast. Following the transaction, WSS will maintain its name, operating as a new banner in our portfolio. The aggregate consideration in the transaction will consist of $750 million in cash, subject to customary adjustments to reflect changes in net working capital, cash, indebtedness, and transaction expenses. The transaction will be funded with available cash. The transaction is currently expected to close in September 2021, subject to the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the satisfaction of customary closing conditions.

Acquisition of atmos

On August 2, 2021, we announced that we entered into a definitive agreement to acquire Text Trading Company, K.K. (“atmos”), which owns and licenses the atmos brand, a digitally led, premium, global retailer headquartered in Japan. atmos is a culturally connected brand featuring premium sneakers and apparel, an exclusive in-house label, collaborative relationships with leading vendors in the sneaker ecosystem, experiential stores, and a robust omni-channel platform. The purchase price is $360 million and additional contingent consideration of up to $111 million based on achieving certain revenue growth and EBITDA performance targets. The transaction will be funded with the Company’s available cash. atmos will maintain its name, operating as a new banner in our portfolio. The transaction is currently expected to close early in the fourth quarter of 2021, subject to the satisfaction of customary closing conditions.