Movado to Acquire MVMT Watches

Paul, Weiss is advising Swiss watchmaker Movado Group, Inc. in its acquisition of MVMT Watches Inc., an emerging international watches and accessories brand. The purchase price includes an initial payment of approximately $100 million, and two future contingent payments that combined could total up to an additional $100 million. The acquisition, which is expected to close around October 1, will be funded through cash and borrowings under Movado’s revolving credit facility.

The Paul, Weiss team includes, among others, corporate partner Ellen Ching and counsel Stephen Koo; tax partners Patrick Karsnitz and David Mayo; intellectual property partner Claudine Meredith-Goujon; employee benefits partner Lawrence Witdorchic and counsel Uri Horowitz; real estate partner Salvatore Gogliormella; antirust counsel Marta Kelly; and environmental counsel William O’Brien.