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Jones Apparel Buys Robert Rodriguez Brand

February 5, 2010 (FinancialWire) — Jones Apparel Group, Inc. (NYSE: JNY) said that it has acquired Moda Nicola International, LLC, the owner of the Robert Rodriguez Collection, a privately held designer, marketer and wholesaler of women’s contemporary eveningwear and sportswear.

The transaction is valued at approximately $28 million. According to Jones, MNI generated net revenues of around $17 million for the year ended December 31, 2009.

Under the terms of the agreement, Jones made initial cash payments to the selling members of MNI, who are entitled to receive future cash payments upon achievement of certain financial targets set within the agreement.

The company expects that the transaction should be accretive to earnings, prior to any required purchase accounting adjustments and closing costs.

New York-based Jones Apparel Group is a designer, marketer and wholesaler of branded apparel, footwear and accessories.

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